NRC, SEDC to partner on rail modernisation in South-East region

The Managing Director of the Nigerian Railway Corporation (NRC), Kayode Opeifa, on Wednesday, highlighted the crucial role of the South East Development Commission (SEDC) in the Federal Government’s mission to expand and modernize the country’s railway infrastructure in the South Eastern part of the country.

Disclosing this when the SEDC paid him a courtesy visit in Lagos, Dr. Opeifa explained that the Federal Government is prioritizing the rehabilitation and expansion of railway networks to enhance mobility, reduce the cost of transporting goods, and improve economic productivity.

According to the NRC MD, “NRC has successfully constructed over 1,000 kilometers of new or refurbished rail lines in the past decade, marking a significant milestone in railway development.

“The railway system is integral to Nigeria’s transportation network. Without an efficient railway, our economy cannot reach its full potential.”

The NRC MD noted that revitalizing the railway sector would lead to a significant reduction in the cost of goods, benefiting businesses and consumers alike.

Among the key highlights of the visit was the discussion on ongoing projects, including the rehabilitation of the eastern corridor railway line, which is expected to restore connectivity between key cities in the southeast and other parts of the country.

The NRC MD also addressed concerns about the availability of railway assets, affirming that the NRC is actively working to repurpose outdated infrastructure and improve service delivery.

Also speaking, the Managing Director, South East Development Commission (SEDC), Mr Mark Okoye outlined an ambitious roadmap to transform the region into Nigeria’s preferred investment destination by 2030.

Okoye emphasized the significance of the partnership in aligning with President Bola Ahmed Tinubu’s Renewed Hope Agenda and the broader United Nations Industrial Development Organization (UNIDO) objectives for national growth.

“For over five decades, the South East region has advocated for a structured development framework. Under this administration, in less than a year, we have witnessed historic progress with the establishment of the SEDC.

“The commission, which was inaugurated on February 11, has identified five key sectors to drive the region’s economic expansion from $40 billion to $200 billion within ten years. These sectors include agriculture, industrialization, technology, creative economy, and tourism, with infrastructure serving as the enabling foundation.

“Our goal is to develop a seamless business climate across all five states in the region. We want consistency in ease of doing business policies, laws, and investment regulations to attract both domestic and international investors.”

Okoye stressed that the commission seeks to ensure project sustainability by making them bankable, reducing reliance on government funding, and encouraging private-sector participation.

He added that the commission intends to establish an investment fund driven through an investment corporation to finance long-term projects, ensuring financial independence within a decade.

The delegation also highlighted security and investment climate enhancement as immediate priorities, recognizing that economic transformation cannot thrive without a stable environment.

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