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Transport Sector Is Economic Backbone For Growth – Osinbajo

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5 years ago

December 7, 2021

VP Osinbajo To Chair 3rd Annual National Transport Summit - autojosh

Prof. Yemi Osinbajo, Vice President of Nigeria, has stated that the Federal Government’s investments in the transportation system, particularly in the rail, road, air, and maritime sectors, are aimed at obtaining potential transport hub status.

Osinbajo, who presided over the 3rd National Transportation Summit of the Chartered Institute of Nigeria (CIoTA) in Abuja yesterday under the theme “Regulating The Transport Sector In Nigeria: The State Of The Art And The Years Ahead,” stated that there can be no economic development without transportation, and that transportation cannot serve its purpose unless it is available in a safe, affordable, and secure environment.

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“This is why CIoTA’s theme for the year 2021 summit, Regulating the Transport Sector in Nigeria: the State of the Art and the Years Ahead,” said Osinbajo, who was represented by the Minister of Transportation, Rotimi Amaechi.

The summit’s subject and sub-themes are consistent with the government’s thinking and activities, as seen by substantial transportation infrastructure improvements in the rail, road, maritime, and aviation subsectors.

“As an indicator of how seriously this administration regards transportation as a sector for driving our economic strategy, we enunciated some innovative policy measures for supporting important transportation projects.” These include the Road Infrastructure Tax Credit Scheme, Bonds, and the participation of international development partners such as the World Bank, Africa Development Bank (ADB), IMF, Foreign Direct Investment (FDI), Highway Development and Management Initiative (HDMI), and the National Tolling Policy. These are producing results.