Federal Government’s Truck Transit Park to gulp N4.8 billion

Shippers pix - Federal Government’s Truck Transit Park to gulp N4.8 billion

Senior Special Assistant on Infrastructure to Vice President, Olukolade Sofola, (left); Executive Governor Kebbi State, Abubakar Atiku Bagudu; Minister of Transportation, Rotimi Amaechi; Chairman Senate Committee on Aviation, Muhammad Adamu Aliero, Senator Ahmed Rufai Sani Yerima, Chairman, House Committee on Ports, Harbours and Waterways, Asadu Patrick, Nobel Laureate, Professor Wole Soyinka, and the Corps Marshal, Federal Road Safety Commission, Dr. Boboye Oyeyemi, at the Shippers’ Council Breakfast Meeting in Lagos.

The planned Truck Transit Park initiative of the Nigerian Shippers’ Council (NSC), would gulp over N4.8 billion, even as investors are jostling to secure a stake in the project.

The Minister for Transportation, Rotimi Amaechi, assured that the N4.8 billion Truck Transit Park (TTP), in eight locations across the country, and another six Inland Container Depots (ICD) are aimed at solving the chaos currently experienced in Nigerian ports.

The Truck Transit Park (TTP) project is a modern state-of-the-art facility situated just off the highways, designed to provide temporary rest location where truck drivers can conveniently park their vehicles in a healthy environment, get accommodation, fuel, food, drinks, restrooms, showers and other basic supplies like oil and spare parts as well as services in high use corridors.

Amaechi said, ”the TTPs have worked in the advanced countries and will also work in Nigeria because we are going to follow the international standards.,”

Chief Executive Officer, the Nigerian Stock Exchange, Oscar Onyeama, at NSC’s breakfast meeting in Lagos stressed the need to exploit the bond market to raise fund for infrastructure projects.

He noted that investment prospects for the transport sector is viable, while calling for lunching of fund that primarily focus on transport infrastructure.

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Chairman, Senate Committee on Aviation, Adamu Aliero, said: “There is serious deficit in our infrastructure and the only way we can overcome this challenge is by sourcing for funds and relying on the private sector,”

Executive Secretary, NSC, Hassan Bello said: “Investment benefits of TTP includes; guaranteed returns on investment for the investor; Investors will have the benefit of managing an industrial and logistics hub with numerous incentives”

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