[dropcap]A[/dropcap]ll over the world, progressive nations are adopting unique and diverse Private Public Partnerships, PPP, frameworks to finance, manage and operate their rail networks and systems.
Even the UK , that has one of the oldest and most efficient public rail system in the whole world has long since 1993 concessioned their rail operation and system to private sector led operations and enterprise.
But here in this jungle , the unaware Bubu and his kitchen cabinet of mostly unthinking O-yes members are still using and relying on the moribund 1955 railway act as instruments/means to loot and steal our scarce resources by way of corrupt laden and inefficient public sector driven rail projects leverage financing and operations.
GE last year walked back on their earlier arrangements to take over and revamp the old narrow Guage rail network /track because they realized that they are dealing with insincere characters, who are only what they will misappropriate or loot. They do not care for Nigeria or Nigerians.
NOW LETS ROLL BACK TO HISTORY TO BUTTRESS HOW WICKED, GREEDY AND INSENSITIVE SOME OF THESE MEN ARE.
This same Rotimi Amaechi, who wants to borrow $40 billion that they obviously plan to misappropriate and loot, became governor of River state on October 25, 2007.
He commenced the PH Metro Rail Project at the same period that the Addis Ababa City administration commenced her Addis Ababa metro rail project.
The River state project that Amaechi started was supposed to cover 12km at a cost of N50 billion/ $400 million then.
The Addis Ababa Project which commenced the same period in 2009 was planned to cover 17.7km at a cost of $475 million. The Addis Ababa Project includes a dedicated and captive power project that will power it 24/7.
6 years after , the Addis Ababa city administration delivered and commissioned her own project which was 85% funded by Chinese Exim under a unique Joint Venture Operator management arrangement.
The Addis Ababa Project today provide services for 15,000 passengers both ways per hour.
It cost $0.3/N108 to take a trip on the rail system and today the stakeholders under the JV arrangement annually rakes in over $29 million/N10.7 billion from the project.
They have since started the second phase that has capacity to ferry 60,000 passengers per hour.
Back home here in the jungle , after looting and misappropriating over N33.9 billion/$212 million and covering only 2.6km Rotimi Amaechi abandoned the PH city metro rail Project.
A commission of enquiry instituted by his predecessor in office, which indicted him and forward same indictment to the EFCC is long forgotten.
Of course, it is alleged that he used part of the funds to bankroll the incumbent government in power in the 2015 election, waved the broom, and pronto his sins were forgiven and he was rewarded with the super minister portfolio for Transport.
This is the same man that want us to trust him and his band of rapacious and clueless dimwits with $40bn to deliver useless national rail connectivity under a moribund and out of tune 1955 rail way act
Sometimes I look around us and feel like just puking. Do these guys thing that all of us are hordes of amnesiac zombies in this country?
May God save us from this next level of perversion, wanton corruption, impunity, lies, deceit and wickedness in Jesus name amen
If Buhari wants to connect the whole of Nigeria through the rail system , he should start by sacking Amaechi and replacing him with a capable and competent technocrat, who can spearhead a true and sustainable 5000 to 10,000 km radius rail coverage of Nigeria under unique and transparent PPP and JV arrangements that will provide over $40 billion global funds inflow into Nigeria without adding a cent of debt on Nigeria”s already unsustainable debt profile.
God Bless Us
Nnaemeka Onyeka Obiaraeri is the managing director of Taurus Capital, He resides in Lagos Nigeria, You could reach him by email HERE.
The opinions expressed in this article are solely those of the author.