• Contact Us
  • About Us
Friday, April 17, 2026
  • Login
MetroBusinessNews
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate
No Result
View All Result
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate
No Result
View All Result
MetroBusinessNews
No Result
View All Result
ADVERTISEMENT
Home Economy

Amaechi orders NRC to revaluate NRC facilities at Apapa port

metro by metro
May 11, 2019
in Economy
0
0
SHARES
0
VIEWS

Rotimi AmaechiThe Minister of Transportation, Mr Rotimi Amaechi, has ordered the Nigerian Railway Corporation (NRC) to re-evaluate its existing assets at the Apapa Ports, to create space for the proposed Apapa rail station.

Amaechi said this on Saturday while inspecting the site for the proposed station, which is part of the ongoing Lagos-Ibadan standard guage rail project in Lagos.

Read Also

Nigeria’s Finance Minister, Edun Says Developing Nations Need More From IMF, World Bank

Americans Give Record-Low Marks To Economy In Ominous Sign For Republicans 

Rewane warns Rising Crude Oil Prices Will Boost Daily Oil Theft To $16m, High Inflation, Lower Growth Rate

According to him, after inspecting the site, the railway property at Apapa actually calls for an audit, to know which of the property is still on lease, as well as those whose lease had expired.

“How can the NRC acquire its own property, if all this property is for the NRC and it is leased out? We need to know for how many years, if it has expired or not.

“Let us revalue them. If we are to convert some of the property for the proposed station, will that make economic sense or not? Or do we modify them into a Hotel or a Shopping Mall, just as we have done at the Ebute Meta station?

“They should not just evaluate but also identify the owners of such assets, and if we have leased them out, they have no choice but to pay.

“If the lease has expired, the owners do not have a choice than to hand over the property back to us, but we have to do an audit before that,’’ he said.

Speaking on issues hindering the use of rail to transport cargo to the Apapa port, the minister said only the standard guage lines could be used to increase the volume of cargo that could be transported daily.

“We have yet to construct the standard guage, and until that happens, you can’t be able to move enough cargo.

“Currently, I hear we are moving about 200 to 300 thousand tonnes of cargo yearly. We need to make sure that the tracks are functioning properly to enable us to be able to move more cargo,’’ he said.

The minister said that work was ongoing on the Jibowu and Costain bridges that would be demolished.

“There are two bridges we are going to demolish in Lagos; one is at Jibowu and the other is at Costain. But we have to finish construction before we demolish, because Lagos is such a heavy economy that if you demolish without first of all constructing the alternative bridges, you cause serious crisis with the traffic.

“So, we will first finish construction before we demolish the Jibowu Bridge. They have commenced with Costain; when they finish with the construction and get the traffic relieved, then we demolish the old bridges,’’ he said.

Also speaking, the Managing Director of NRC, Mr Fidet Okhiria, said that the Apapa station would be completed within seven months.

He said that those using the corporation’s property at the Apapa station only got temporary licences, adding that after revaluation. they would be made to handover the assets to the corporation.

The News Agency of Nigeria (NAN) reports that Amaechi inspected the Jibowo and Costain bridges, the Apapa rail station, as well as the Papalanto site in Ogun during the visit.

Tags: NRC facilities at Apapa port
Previous Post

Minimum Wage: Association cautions traders against hiking prices of commodities

Next Post

New Emirs appointed before court order – Ganduje

Related Posts

Minimum Wage: No Cause For Alarm, Says Finance Minister, After Meeting Tinubu
Economy

Nigeria’s Finance Minister, Edun Says Developing Nations Need More From IMF, World Bank

April 14, 2026
US Excludes Nigeria, 17 Other Countries From 2025 Visa Lottery Scheme
Economy

Americans Give Record-Low Marks To Economy In Ominous Sign For Republicans 

April 11, 2026
Bismarck Rewane
Economy

Rewane warns Rising Crude Oil Prices Will Boost Daily Oil Theft To $16m, High Inflation, Lower Growth Rate

April 7, 2026
China, US Debt Woes May Dominate G7 Finance Chiefs’ Talks
Economy

China Emerges As Safe Haven As Oil Shock  Roils Global Economy

April 1, 2026
Next Post

New Emirs appointed before court order – Ganduje

‘Déjà Vu’: Nigeria Gets Another Oil Windfall

April 17, 2026
Israel, Lebanon Begin Ceasefire, Trump Says Iran May Meet US At Weekend 

Israel, Lebanon Begin Ceasefire, Trump Says Iran May Meet US At Weekend 

April 17, 2026
Trump

Latest Bid To Rein In Trump’s Iran War Powers Fails In US House

April 17, 2026
MetroBusinessNews

© 2022 Metro Business News

Navigate Site

  • Contact Us
  • About Us

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate

© 2022 Metro Business News

Go to mobile version