The Federal Government has concluded arrangements to concession the Nigerian Railway Corporation to any reputable foreign company.
Chairman of the NRC, Usman Abubakar, revealed this to newsmen after flagging off the maiden rail transportation of 800 tonnes of soya beans from Funtua to the Apapa port in Lagos.
He explained that the concession would be executed very soon.
According to him, the rail transport scheme is driven by the Nigerian Incentive Based Risk Sharing for Agricultural Lending (NIRSAL), in partnership with the Nigeria Railway Corporation.
He lamented that arrangements on the concession began about three weeks earlier, when the corporation advertised for bids from interested foreign companies to manage them.
“A number of foreign companies responded to the advertisement while the corporation has begun to study the bids submitted by the companies with a view to settling down for one that meets the laid down requirements and standards,” he said.