The Minister of Transportation, Rotimi Amaechi, on Wednesday, said the Federal Government is developing a national transportation master plan to diversify the economy and improve non-oil sector revenue.
Speaking at a briefing after a tour of facilities at the Lagos Airport, he said government is determined to fully exploit the potential of the transport sector by opening it up for new investment.
According to him, if properly positioned, the transport sector holds the key to unlocking economic potentials for the country.
“The government of President Muhammadu Buhari is in the process of developing a national transportation master plan that will be implemented as a fulfillment of one of his campaign promises to diversify the national economy while improving non oil sector revenue.
“While reducing dependence on oil revenue, it will also develop the rural economy, reduce unemployment and urban drift.
“The problems of Nigerian transport system include bad roads, inadequate fleet of buses and trucks, irregular and inadequate trains and airplanes services and congested ports. In addition to these, are physical problems such as the dearth of suitably trained transport managers and planners, capital restructuring bottlenecks, serious issues of institutional reforms and ineffective traffic regulations.
“The Buhari administration is determined to fully exploit the potentials in the transportation sector. As a first step, the government will pursue the enactment of legislation that will open up the sector to new investments that will lead to economic prosperity,” Amaechi said. [FMT]
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