SEDC visits NRC CEO, mulls partnership on rail rehabilitation 

The Managing Director and CEO of the Nigerian Railway Corporation (NRC), Dr. Kayode Opeifa, has highlighted the crucial role of the South-East Development Commission (SEDC) in the Federal Government’s vision to rehabilitate, expand and optimize the country’s railway infrastructure.

Speaking during a working visit by the leadership of the SEDC to the NRC Headquarters in Lagos, Opeifa observed that the visit by the SEDC Managing Director Mr Mark Okoye, and the Southwest Director on the Commission, Mrs Adejoke Adebayo Chukwumah, underscored the priority attention the SEDC attached to rail development in the region.

He said the NRC has historically been at the heart of Nigeria’s economic growth, tracing it back to the colonial era when the first rail lines were built to facilitate trade and commerce.

Opeifa said: “While Nigeria developed 3,500 kilometres of rail lines in our first 60 years post- independence, the Federal Government successfully constructed over 1,000 kilometres of new or refurbished rail lines in the past decade, marking a significant milestone in railway development.”

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

Opeifa said rehabilitation of the eastern corridor railway line would restore connectivity between key cities in the southeast and other parts of the country.

In his remarks, the Managing Director, SEDC, Mr Mark Okoye,  outlined an ambitious roadmap to transform the region into Nigeria’s preferred investment destination by 2030.

“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,” he said.

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.