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Lagos-Abuja high speed bullet train project to revolutionize Nigeria’s transport sector – Idris
The proposed Lagos-Abuja High-Speed Bullet Train Project has been projected to revolutionize Nigeria’s transportation sector and be a catalyst to boost trade, tourism business and regional economic integration in Nigeria.
Engineer Yinka Idris, Director of Operations at Geofocus Consortium, the project’s initiators, said this while briefing newsmen on the efforts so far, at the weekend.
He said the project is one of the revolutionary projects of the present government of President Bola Ahmed Tinubu in the transportation sector.
According to him, the groundbreaking ceremony for the construction of the project, is poised to transform Nigeria’s transportation landscape, and is already gaining momentum.
Engineer Idris pointed out that, “this visionary initiative, hailed as a catalyst for growth, is set to be financed solely through a Public-Private Partnership (PPP) model, ensuring a synergistic blend of private sector expertise and public sector oversight.
“The Lagos-Abuja High-Speed Bullet Train Project presents a transformative opportunity for investors, public agencies, and the general public to invest in a brighter future for Nigeria.”
He pointed out that this sentiment is echoed by a team of experts in Public-Private Partnership (PPP) transaction outline, who have highlighted the compelling reasons to prioritize investment in this project, emphasizing its economic, social, and environmental benefits.
According to him, “for decades, traveling by road from Lagos to Abuja and vice versa has been a daunting task, with passengers struggling under the weight of ever-increasing traffic. This grueling 12-hour journey has been a significant drain on productivity, a barrier to trade, and a safety concern, worrisome to both citizens and the government. The Lagos-Abuja High-Speed Bullet Train Project is poised to alleviate these challenges, providing a faster, more efficient, and affordable transportation solution.”
“The stress which people go through with the present road network has been viewed in no small ways as a significant drain on productivity, a barrier to trade and safety concern to the people, which is worrisome to both the citizens and the government, hence, the need for new innovations that would make traveling very easy for all scale of investors, traders and ordinary Nigerians who cannot afford to travel by air.”
Engr. Yinka Idris stressed that, “though right now, travelling by air is faster, it comes at a premium, leaving a vast segment of the population seeking a more efficient and affordable solution, which the High-Speed Rail System would be an answer to. This model leverages the expertise and resources of the private sector, ensuring efficient project execution and minimizing the burden on public funds”.
He revealed that the Geofocus Consortium, the lead promoter and sponsor of this project, has already demonstrated commitment by securing proof of fund—a crucial step towards realizing this vision.
He further pointed out that, “A Public-Private Partnership(PPP) is a collaborative arrangement between the government and the private sector that aims to finance, build, operate and maintain public infrastructure.This model allows the private sector to assume significant financial and operational risk while the government provides a supportive regulatory framework”.
The result, according to him, is “enhanced service delivery and infrastructure development”.