Don’t Abandon Rail Projects,ARR Official urges State Governors

A top official of the African Railway Roundtable has urged Nigerian states governors with ongoing or new plan for railway not to abandon the projects.

He also called on Governors who are also working on new rail projects not to relent but to be rather innovative about the project design and funding models.

Olawale Rasheed of the ARR in a statement said six Nigerians states have rail projects at various stages of conception and implementation,noting that ‘state governors should resist the temptation to dump the projects because of financial considerations .

“Governors should continue review to adopt innovative funding and financing mechanism that will not create burden or debt trap. Extensive studies should be conducted about financial sustainability alongside issues like passenger or freight volumes among other considerations.

“Rail project depending on the project design and market study is not a fancy conception but a tool to boost economic development. Either for freight or mass transit,our states government should only review the inherited projects and finetune them for financual sustainbikity.

“I think the forthcoming African Railway Financing Conference holding in Abuja between October 23 to 25th will be a rewarding avenue for issues of funding and financing mechanisms to be extensively discussed and various options identified.It will therefore be a good idea for stakeholders in the railway sector to attend”,Mr Rasheed noted.

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