Friday, 17 February 2017

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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