The government of Nigeria has said that the US conglomerate General Electric (GE) will take over the management of the Nigeria Railway Corporation (NRC), the state-owned enterprise that operates railways in the country.
GE will assume control of the railways under a concession agreement in the first quarter of next year, Nigeria’s transport minister Rotimi Chibuike Amaechi told a transportation conference in the capital Abuja, Nigerian newspaper The Guardian reported yesterday.
Amaechi said GE would help harness the full potential of rail transportation infrastructure in the country and create new jobs.
Earlier this month GE told media that it had a "keen interest" in acquiring a concession worth around $2bn to revamp and manage railways in Nigeria.
The minister also said that plans are underway to start building new seaports in Warri and Lekki, reported the Guardian.
Image: A Nigeria Railway Corporation locomotive waits at a platform (Nigeria Railway Corporation)