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Nigeria to privatize transport sector

Xinhua, February 9, 2015 Adjust font size:

Nigeria will begin the privatization process of its transport sector, a top official with the country's Bureau of Public Enterprises (BPE) said Sunday.

The process will begin as soon as necessary legal and regulatory frameworks are put in place, the BPE's director-general, Benjamin Dikki, said in a statement reaching Xinhua in Lagos, the nation's economic hub.

Nigeria's transport sector would become a viable investment destination for investors from across the globe once this was done, Dikki added.

According to him, the bureau was concerned with the viability of the transport sector because it was critical to the growth of the nation's economy.

"We don't want to repeat the mistake we made during the port reform. Before embarking on the reform of any sector, we will ensure that the legal and regulatory frameworks are in place," the official said.

"That is why for the transport sector, we have all the seven draft bills undergoing approval process by the Federal Executive Council, after which they will be transmitted to the National Assembly for passage," he added.

"From the assurances we are getting from various stakeholders, these bills will be passed soon," the statement quoted Dikki as saying. Endi