Federal government moves to concede Nigerian Railway Corporation.
The Federal Government
has concluded arrangements to concede the Nigerian Railway Corporation to any
reputable foreign company.
Revealing this to newsmen
after flagging off the maiden rail transportation of 800 tonnes of soya beans
from Funtua to the Apapa port in Lagos, the Chairman of the Nigerian railway
commission, Usman Abubakar, noted that the concession would be executed soon.
He noted that the rail
transport scheme is driven by the Nigerian Incentive Based Risk Sharing for
Agricultural Lending (NIRSAL), in partnership with the Nigeria Railway
Corporation adding that arrangements on the concession had earlier began in
three weeks, when the corporation advertised for bids from interested foreign
companies to manage them
It is worthy to note
that concession agreement is a negotiated contract between a company and a
government which gives the company the right to operate a specific business within the
government's control.
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