Monday, June 2, 2025
The Lagos Today
  • Login
  • Home
  • Tech
    NjiaPay: South African Fintech Startup Reshaping Payment Solutions for African Businesses

    NjiaPay: South African Fintech Startup Reshaping Payment Solutions for African Businesses

    Ghana’s Kofa Secures $8.1M Pre-Series A Funding to Drive Clean Energy Access Across Urban Africa

    Ghana’s Kofa Secures $8.1M Pre-Series A Funding to Drive Clean Energy Access Across Urban Africa

    South Africa’s CureRoot Leverages AI to Unlock New Medicines from African Medicinal Plants

    South Africa’s CureRoot Leverages AI to Unlock New Medicines from African Medicinal Plants

    SA’s Peach Payments Expands into Francophone Africa with PayDunya Acquisition

    SA’s Peach Payments Expands into Francophone Africa with PayDunya Acquisition

    Egypt’s Enza Secures $6.75M to Drive Financial Inclusion in Africa

    Egypt’s Enza Secures $6.75M to Drive Financial Inclusion in Africa

    South African Prop-Tech Startup Preferental Unveils Innovative Tenant-Screening App

    South African Prop-Tech Startup Preferental Unveils Innovative Tenant-Screening App

    LoftyInc Capital Secures $43 Million for First Close of New Pan-African Seed Fund

    LoftyInc Capital Secures $43 Million for First Close of New Pan-African Seed Fund

    Stitch Teams Up with Standard Bank’s Shyft for Instant Wallet Top-Ups in South Africa

    Stitch Teams Up with Standard Bank’s Shyft for Instant Wallet Top-Ups in South Africa

    Kenya Takes Action Against TikTok Following Child Exploitation Exposé

    Kenya Takes Action Against TikTok Following Child Exploitation Exposé

  • Startups⚡ by CRAWL
    NjiaPay: South African Fintech Startup Reshaping Payment Solutions for African Businesses

    NjiaPay: South African Fintech Startup Reshaping Payment Solutions for African Businesses

    Ghana’s Kofa Secures $8.1M Pre-Series A Funding to Drive Clean Energy Access Across Urban Africa

    Ghana’s Kofa Secures $8.1M Pre-Series A Funding to Drive Clean Energy Access Across Urban Africa

    South Africa’s CureRoot Leverages AI to Unlock New Medicines from African Medicinal Plants

    South Africa’s CureRoot Leverages AI to Unlock New Medicines from African Medicinal Plants

    Kenyan Tourism Venture Studio Purple Elephant Ventures Increases Seed Round to $5 Million

    Kenyan Tourism Venture Studio Purple Elephant Ventures Increases Seed Round to $5 Million

    SA’s Peach Payments Expands into Francophone Africa with PayDunya Acquisition

    SA’s Peach Payments Expands into Francophone Africa with PayDunya Acquisition

    Egypt’s Enza Secures $6.75M to Drive Financial Inclusion in Africa

    Egypt’s Enza Secures $6.75M to Drive Financial Inclusion in Africa

    GIIG Partners with SparkRockets to Launch AI-Powered Startup Validation Tool

    GIIG Partners with SparkRockets to Launch AI-Powered Startup Validation Tool

    Tanzania’s Kilimo BaNDO Revolutionizes Agriculture for Smallholder Farmers

    Tanzania’s Kilimo BaNDO Revolutionizes Agriculture for Smallholder Farmers

    South African Prop-Tech Startup Preferental Unveils Innovative Tenant-Screening App

    South African Prop-Tech Startup Preferental Unveils Innovative Tenant-Screening App

    LoftyInc Capital Secures $43 Million for First Close of New Pan-African Seed Fund

    LoftyInc Capital Secures $43 Million for First Close of New Pan-African Seed Fund

  • Opinion
  • Business
  • Biotech
  • Industry
    iPhone 16 Sales Surge 20% in China, Signaling a Strong Comeback

    iPhone 16 Sales Surge 20% in China, Signaling a Strong Comeback

    Grid Africa Secures $2.8 Million for Renewable Energy Initiatives in South Africa

    Grid Africa Secures $2.8 Million for Renewable Energy Initiatives in South Africa

    Millennials and Gen Z Show Shorter Tenures Despite Clear Career Paths, New Report Shows

    Millennials and Gen Z Show Shorter Tenures Despite Clear Career Paths, New Report Shows

    Kenya’s Octavia Secures $3.9M Seed Funding to Tackle Carbon Emissions

    Kenya’s Octavia Secures $3.9M Seed Funding to Tackle Carbon Emissions

  • Features & Interviews
  • Entertainment
    • All
    • Art & Design
    • Books
    • Movie
    • Music
    • Sports
    Pick n Pay Set to List Boxer Business in Africa’s Largest IPO of 2024

    Pick n Pay Set to List Boxer Business in Africa’s Largest IPO of 2024

    One Direction Star Liam Payne Dies after Hotel Balcony Fall

    One Direction Star Liam Payne Dies after Hotel Balcony Fall

    It’s important to set boundaries in entertainment industry – Reminisce

    It’s important to set boundaries in entertainment industry – Reminisce

    AFCON 2023: Super Eagles Ready to Face Lions of Cameroon on Saturday – Peseiro

    Flying Eagles moves to Ikenne for camping in prep for 2024 WAFU B U20 Championship in Togo

    EGUAVOEN APPOINTED NIGERIA FOOTBALL FEDERATION TECHNICAL DIRECTOR

    Eguavoen gives conditions for turning Super Eagles interim job to full time role

    Jagun Jagun secures 7 nominations at 2024 AMAA

    Jagun Jagun secures 7 nominations at 2024 AMAA

    Atiku Faults 2020 Budget Review, Urges FG to Prioritize Welfare of Citizens

    Atiku proposes single term of 6-years rotational Presidency

    Oba Elegushi donates 3 standard tennis courts to LASU, reveal reasons behind donation

    Oba Elegushi donates 3 standard tennis courts to LASU, reveal reasons behind donation

    Covid-19: Cinema Operators Decry N22Bn Losses

    FG grants licensing waiver for community cinemas investors – NFVCB

  • Reviews
No Result
View All Result
  • Home
  • Tech
    NjiaPay: South African Fintech Startup Reshaping Payment Solutions for African Businesses

    NjiaPay: South African Fintech Startup Reshaping Payment Solutions for African Businesses

    Ghana’s Kofa Secures $8.1M Pre-Series A Funding to Drive Clean Energy Access Across Urban Africa

    Ghana’s Kofa Secures $8.1M Pre-Series A Funding to Drive Clean Energy Access Across Urban Africa

    South Africa’s CureRoot Leverages AI to Unlock New Medicines from African Medicinal Plants

    South Africa’s CureRoot Leverages AI to Unlock New Medicines from African Medicinal Plants

    SA’s Peach Payments Expands into Francophone Africa with PayDunya Acquisition

    SA’s Peach Payments Expands into Francophone Africa with PayDunya Acquisition

    Egypt’s Enza Secures $6.75M to Drive Financial Inclusion in Africa

    Egypt’s Enza Secures $6.75M to Drive Financial Inclusion in Africa

    South African Prop-Tech Startup Preferental Unveils Innovative Tenant-Screening App

    South African Prop-Tech Startup Preferental Unveils Innovative Tenant-Screening App

    LoftyInc Capital Secures $43 Million for First Close of New Pan-African Seed Fund

    LoftyInc Capital Secures $43 Million for First Close of New Pan-African Seed Fund

    Stitch Teams Up with Standard Bank’s Shyft for Instant Wallet Top-Ups in South Africa

    Stitch Teams Up with Standard Bank’s Shyft for Instant Wallet Top-Ups in South Africa

    Kenya Takes Action Against TikTok Following Child Exploitation Exposé

    Kenya Takes Action Against TikTok Following Child Exploitation Exposé

  • Startups⚡ by CRAWL
    NjiaPay: South African Fintech Startup Reshaping Payment Solutions for African Businesses

    NjiaPay: South African Fintech Startup Reshaping Payment Solutions for African Businesses

    Ghana’s Kofa Secures $8.1M Pre-Series A Funding to Drive Clean Energy Access Across Urban Africa

    Ghana’s Kofa Secures $8.1M Pre-Series A Funding to Drive Clean Energy Access Across Urban Africa

    South Africa’s CureRoot Leverages AI to Unlock New Medicines from African Medicinal Plants

    South Africa’s CureRoot Leverages AI to Unlock New Medicines from African Medicinal Plants

    Kenyan Tourism Venture Studio Purple Elephant Ventures Increases Seed Round to $5 Million

    Kenyan Tourism Venture Studio Purple Elephant Ventures Increases Seed Round to $5 Million

    SA’s Peach Payments Expands into Francophone Africa with PayDunya Acquisition

    SA’s Peach Payments Expands into Francophone Africa with PayDunya Acquisition

    Egypt’s Enza Secures $6.75M to Drive Financial Inclusion in Africa

    Egypt’s Enza Secures $6.75M to Drive Financial Inclusion in Africa

    GIIG Partners with SparkRockets to Launch AI-Powered Startup Validation Tool

    GIIG Partners with SparkRockets to Launch AI-Powered Startup Validation Tool

    Tanzania’s Kilimo BaNDO Revolutionizes Agriculture for Smallholder Farmers

    Tanzania’s Kilimo BaNDO Revolutionizes Agriculture for Smallholder Farmers

    South African Prop-Tech Startup Preferental Unveils Innovative Tenant-Screening App

    South African Prop-Tech Startup Preferental Unveils Innovative Tenant-Screening App

    LoftyInc Capital Secures $43 Million for First Close of New Pan-African Seed Fund

    LoftyInc Capital Secures $43 Million for First Close of New Pan-African Seed Fund

  • Opinion
  • Business
  • Biotech
  • Industry
    iPhone 16 Sales Surge 20% in China, Signaling a Strong Comeback

    iPhone 16 Sales Surge 20% in China, Signaling a Strong Comeback

    Grid Africa Secures $2.8 Million for Renewable Energy Initiatives in South Africa

    Grid Africa Secures $2.8 Million for Renewable Energy Initiatives in South Africa

    Millennials and Gen Z Show Shorter Tenures Despite Clear Career Paths, New Report Shows

    Millennials and Gen Z Show Shorter Tenures Despite Clear Career Paths, New Report Shows

    Kenya’s Octavia Secures $3.9M Seed Funding to Tackle Carbon Emissions

    Kenya’s Octavia Secures $3.9M Seed Funding to Tackle Carbon Emissions

  • Features & Interviews
  • Entertainment
    • All
    • Art & Design
    • Books
    • Movie
    • Music
    • Sports
    Pick n Pay Set to List Boxer Business in Africa’s Largest IPO of 2024

    Pick n Pay Set to List Boxer Business in Africa’s Largest IPO of 2024

    One Direction Star Liam Payne Dies after Hotel Balcony Fall

    One Direction Star Liam Payne Dies after Hotel Balcony Fall

    It’s important to set boundaries in entertainment industry – Reminisce

    It’s important to set boundaries in entertainment industry – Reminisce

    AFCON 2023: Super Eagles Ready to Face Lions of Cameroon on Saturday – Peseiro

    Flying Eagles moves to Ikenne for camping in prep for 2024 WAFU B U20 Championship in Togo

    EGUAVOEN APPOINTED NIGERIA FOOTBALL FEDERATION TECHNICAL DIRECTOR

    Eguavoen gives conditions for turning Super Eagles interim job to full time role

    Jagun Jagun secures 7 nominations at 2024 AMAA

    Jagun Jagun secures 7 nominations at 2024 AMAA

    Atiku Faults 2020 Budget Review, Urges FG to Prioritize Welfare of Citizens

    Atiku proposes single term of 6-years rotational Presidency

    Oba Elegushi donates 3 standard tennis courts to LASU, reveal reasons behind donation

    Oba Elegushi donates 3 standard tennis courts to LASU, reveal reasons behind donation

    Covid-19: Cinema Operators Decry N22Bn Losses

    FG grants licensing waiver for community cinemas investors – NFVCB

  • Reviews
No Result
View All Result
The Lagos Today
No Result
View All Result
Home Business

Minister Calls For Unbundling Of Nigerian Railway Corporation For Optimal Performance

by Eucharia Egwuma
February 17, 2023
in Business
Reading Time: 3 mins read
0
0
China Releases $1.6billion for Lagos-Ibadan Railway
Share on FacebookShare on Twitter

The Minister of Transportation, Mu’azu Jaji Sambo has called for the unbundling of the Nigerian Railway Corporation (NRC) in line with the vision and objectives of Government’s current reforms  in the transportation sector.

The Minister said as it is presently constituted, the Nigerian railway Corporation (NRC) cannot operate optimally, thus necessary reforms and unbundling have become imperative.

The Minister who was addressing the management team of the Ministry of Finance Incorporated (MOFI), led on a visit to him by the CEO, Dr. Armstrong katang,  charged MOFI to drive the unbundling of the NRC to make it more economically viable while offering world class services to Nigerians.

“One of the things I will like to see as the Minister of Transportation, through MOFI is the unbundling of the Nigerian Railway Corporation (NRC).  There is a Committee set up to unbundle NRC and I will urge you to work with the existing Committee,” he said.

The Ministry of Finance Incorporated (MOFI) was incorporated under the provisions of Sections 2 and 3 of the Ministry of Finance Incorporated (MOFI) Act of 1959 as an asset holding company under the Federal Ministry of Finance.  MOFI is the sole manager of all Federal Government investment interests, estates, easement and rights.

The Minister made reference to the reforms implemented in the ports and the benefits these have brought, noting that such should be carried out in railway sector.

In his words, “The Nigerian Railway Corporation (NRC), the way it is currently, is the way the ports were prior to concession, prior to the reforms of 2005.  Today, even the Nigeria Ports authority (NPA) workers are happier about how NPA is today compared to how it was prior to the reforms. 

“This means the reformed NPA is generating more revenues to support its operations and also support its workforce and its pensioners.”

The Minister who assuaged the fear of job loss as a result of the unbundling said, “I don’t want the NRC staff to see the unbundling of the NRC as a threat to their jobs.  If we have a better performing NRC, then we are going to have better salaries for its workers, better working conditions for its workers, more revenue for the FG and therefore the ability to even build more rail networks.”

Sambo pointed out that the issue of encroachment on railway property will soon be a thing of the past as “MOFI was berthed for a specific reason and that reason is for the Federal Government to take control of its assets and create optimum value for these assets”.

In his contribution, the Minister of State for Transportation, Prince Ademola Adegoroye, extolled the capabilities of the Managing Director, MOFI, Dr. Armstrong, saying he has full confidence that the MOFI team will deliver on the job.

Also speaking, the Permanent Secretary, Dr. Magdalene Ajani, noted that the MOFI team being made up of young and intelligent people has satisfied the yearning of Nigerians to have young people in positions of responsibility. She assured the MOFI team of the cooperation of the Ministry in their assignment.

Speaking earlier, the Chief Executive Officer, MOFI, Dr. Armstrong Katang, stated that the visit was to discuss how to create a more effective and efficient partnership between MOFI and the Ministry of Transportation.

Katang said the areas that have been identified for collaboration with the Ministry of Transportation included enumerating and valuing the Nigerian Railway Corporation to ensure that its value is captured in line with the current realities.

According to him, other areas included enumerating and capturing other critical assets within the Ministry especially its infrastructure assets and establishing a task force with representation from the Ministry of Transportation and Ministry of Finance, with clear terms of reverence  to help with the identified assignments.

Share this:

  • Facebook
  • X

Like this:

Like Loading...
Tags: Mu’azu SamboNigerian Railway Corporation
Previous Post

NSCDC Decorates 53 Newly Promoted Senior Officers

Next Post

Cameroon finds suspected cases of Marburg virus, an illness similar to Ebola

Eucharia Egwuma

Eucharia Egwuma

Related Posts

Ghana’s Kofa Secures $8.1M Pre-Series A Funding to Drive Clean Energy Access Across Urban Africa

Ghana’s Kofa Secures $8.1M Pre-Series A Funding to Drive Clean Energy Access Across Urban Africa

by Iyanu Ale
May 2, 2025
0

Ghanaian energy tech startup Kofa has successfully raised $8.1 million in a pre-Series A funding round to scale its AI-powered...

South Africa’s CureRoot Leverages AI to Unlock New Medicines from African Medicinal Plants

South Africa’s CureRoot Leverages AI to Unlock New Medicines from African Medicinal Plants

by Iyanu Ale
April 28, 2025
0

South African startup CureRoot is pioneering a new frontier in pharmaceutical innovation by harnessing artificial intelligence (AI) to discover novel...

Next Post
Cameroon finds suspected cases of Marburg virus, an illness similar to Ebola

Cameroon finds suspected cases of Marburg virus, an illness similar to Ebola

Please login to join discussion

Recommended

Police Forcefully Evict Journalists as #EndBadGovernance Protests Continue in Lagos

Police Forcefully Evict Journalists as #EndBadGovernance Protests Continue in Lagos

10 months ago
China’s economy grows 18.3% in post-Covid comeback

China’s economy grows 18.3% in post-Covid comeback

4 years ago

Popular News

    Connect with us

    Tags

    #EndSARS 2023 Elections 2023 polls 2023 Presidency ACCIDENT Africa All progressives Congress APC Asiwaju Bola Tinubu Babajide Sanwo-Olu CBN Central Bank of NIgeria Central Bank of Nigeria (CBN) Coronavirus pandemic Covid-19 Covid-19 in Lagos Covid-19 in Nigeria Covid-19 Vaccine Cryptocurrency Economic and Financial Crimes Commission EFCC Federal Government Federal Government of Nigeria Fraud Gov. Sanwo-Olu House of Representatives Lagos-Ibadan expressway Lagos state Lagos State Government Lagos State House of Assembly Lagos State Police command Muhammadu Buhari Murder Naira NDLEA Nigeria Nigeria Customs Service Nigerian Economy Nigeria Police Force Rape Strike action TECH UK United Kingdom US

    News

    • Industries
    • National
    • Startups
    • Biotechnology

    Opinion

    • Editorials
    • Today’s Opinion
    • Letters
    • Sunday Review
    • Advertise
    • Opinion
    • Features & Interviews
    • Investigation
    • Contact

    © 2020 The Lagos Today - Nkali.

    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
    • Tech
    • Business
    • Biotech
    • Startups
    • Entertainment
    • Feature & Interviews
    • Reviews
    • Opinion

    © 2020 The Lagos Today - Nkali.

    %d