The Chief Economic Adviser to Cross River State, Dr. Francis Ntamu, has explained that rail transportation is a catalyst for improved economic growth, poverty reduction and inclusiveness as it boosts demand for goods and services, enhances competition and new jobs; and also ensures even flow of commodities.
Dr. Ntamu while speaking as a guest speaker at Abuja Transport and Aviation Correspondents Association (ATACA) 2nd annual seminar with the theme: Nigeria’s troubled economy: Aviation, Rail, Maritime as rescue sectors in Abuja listed interventions in the maritime sector with catalytic impact on Nigeria’s socio-economic recovery to include; the Badagry Port (16m)–Upcoming with renewed commitment from Lagos State Government.
Others are Olokola Port (17m)–some governance and implementation delays; Agaie Port(16m)–preparation phase; Lekki Port(16.5m)-Over 95% completion achieved. Ready for commercial take-off in 2023; Ibom Port (16.5m)–Financial close achieved. Pre-construction phase; Gelegele River Port–Edo State; and Burutu Port-Delta State.
Ntanu, who also doubles as the Chief Executive of the Cross River State Planning Commission, further explained that for the air transport sector, Nigerian Air has massive opportunity for national economic transformation with significant expected development outcomes.
Earlier, in his opening remarks, Mr. Chris Agabi, the Chairman, Abuja Transport and Aviation Correspondents Association, Mr. Chris Agabi lamented that all modes of transportation including air, rail, road, marine and pipeline are under performing.
Agabi warned that unless the Nigeria changes that trajectory, her economy will continue to struggle.
He explained that the theme was carefully chosen to speak to the prevailing economic situation. You will agree that transportation is the biggest enabler of economic growth and this critical sector is underperforming Nigeria.
