NESG Commends Saraki Over Passage Of Railroad Bill

The Nigerian Economic Summit Group (NESG) has commended the Senate President, Dr. Abubakar Bukola Saraki, for his "leadership and unflinching commitment" that led to the recent passage of the Nigerian Railway Corporation (NRC) Bill, by the Senate.

Chief Executive Officer (CEO) of the NESG, 'Laoye Jaiyeola, who made the assertion in a letter of commendation to the Senate President, dated July 22, 2016, specifically appreciated the Senate for the accelerated consideration and passage of the NRC Bill.

Jaiyeola noted that the passage of the Bill "marks a very significant milestone in Nigeria's history and further demonstrates the role of our legislature in the nation's economic development."

He expressed hope that the Bill would mark the first journey that the private sector and the legislature under the National Assembly Business Environment Roundtable (NASSBER) have commenced to improve Nigeria's business environment. 

The letter entitled: "Passage of the Nigerian Railway Corporation Act 1955 Repeal and Re-enactment Railway Bill, 2016" reads in part: "On behalf of our partners in the National Assembly Business Environment Roundtable, Nigerian Economic Summit Group, UK Department for International Development's ENABLE II programme and Nigeria Bar Association's Section on Business Law, I write to congratulate and express our deep appreciation to the Senate of the Federal Republic of Nigeria, for successfully passing the Nigerian Railway Corporation Act 1955 Repeal and Re-enactment Railway Bill, 2016.

"This definitely marks a very significant milestone in Nigeria's history and further demonstrates the role of our legislature in the nation's economic development. This Bill provides for the procurement of private sector participation in Railway Services, provide for the regulation of the railway sector, promote the efficient and sustainable development and operation of the railway sector and facilitate the development of competitive markets for services in the railway sector.

"Your Excellency, we commend your leadership as well as your unflinching commitment to the entire process that led to the passage of the Bill. You will recall that we presented the Final Report of the Comprehensive Review of the Institutional, Regulatory, Legislative, and Associated Instruments Affecting Business in Nigeria on February 29 this year, which listed this particular Bill as one of the priority legislations.

"Thereafter, you declared the Inaugural National Assembly Business Environment Roundtable event open on March 21 in the New Senate Building. We subsequently made a presentation to the Public Hearing on the Bill and were later invited to serve in the Technical Committee by the Senate Committee on Land Transport to work with it in reviewing the Bill. We express our immense gratitude to you for ensuring that this partnership has been sustained.

"It is indeed our expectation that the passage of this Bill marks the first journey that the private sector and the legislature under NASSBER have commenced to improve Nigeria's business environment," it added.