In his remarks, Sen. Akume emphasised the importance of the project in significantly transforming Nigeria’s transport infrastructure to enhance economic and industrial growth.
‘‘The proposed project, which is estimated at Two Hundred Billion United States Dollars (US $200 Billion) is envisioned as a multi-phase programme that integrates gas development, power generation and transmission, and the construction of a 4,000-kilometre high-speed rail network connecting major economic corridors of the country, including Lagos, Abuja, Kano and Port Harcourt. The project has the potential to significantly transform Nigeria’s transport infrastructure, strengthen energy security, stimulate industrial growth and deepen national integration’’.

According to the SGF, part of the mandate of the committee is to carefully examine all relevant documentation, verify claims made by the project proponents, review the technical, legal and environmental aspects of the proposal and provide objective, evidence-based recommendations to guide government decision-making.

He further urged members of the Committee to approach the assignment with professionalism, objectivity and patriotism and also engage with relevant stakeholders to ensure due diligence and compliance with international best practices.

The Technical Committee, which was chaired by the Permanent Secretary (Political & Economic Affairs Office), has the following membership: Permanent Secretaries from the Federal Ministry of Transportation, Ministry of Petroleum Resources, Federal Ministry of Finance, Federal Ministry of Justice, and Federal Ministry of Environment.

Other members include Infrastructure Concession Regulatory Commission (ICRC), Nigerian Electricity Regulatory Commission, Nigeria Communication Commission (NCC), Director-General, Nigeria Governors Forum, Cenral Bank of Nigeria (CBN), Nigerian Financial Intelligence Unit (NFIU), Economic and Financial Crimes Commission (EFCC), National Intelligence Agency (NIA), Office of the National Security Adviser (ONSA), Department of State Services (DSS), Debt Management Office (DMO), Office of the Surveyor General of the Federation (OSGoF) and Economic, Monitoring & Research Department (OSGF), as the Secretariat.

In his presentation of the proposed project, the Managing Director/ Chief Executive Officer of De-Sadel Nigeria Limited, Mr Samuel Ukoh, described the project as an innovative endeavour that will change Nigeria’s transport infrastructure.

According to Mr Ukoh, the project is a 4,000km dual-track high-speed rail that cuts inter-city travel time by 75% and links all 36 states and the FCT. He added that the first phase connects key cities, which include Lagos, Abuja, Kano and Port Harcourt, assuring that it would include the generation of about 3,500 megawatts of power to drive the high-speed rail system.

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Prof. James Momoh, Chairman, Nigeria Electricity Regulatory Commission (NERC) said this when the ad hoc Technical Committee on Electricity Tariff submitted its interim report at a reconvene bilateral meeting between Federal Government and Organised Labour on Monday in Abuja.

The new tariff was earlier suspended for two weeks and ended at midnight on October 11, when the organised labour suspended the planned industrial action over agitation on the hike in electricity tariff on September 28.

Momoh while speaking, said the one week extension new tariff said was to enable the committee to review and work out modalities for the implementation of the agreement reached on the electricity tariffs structure.

Minister of Labour and Employment,Chris Ngige, while reading a resolution reached between the Federal Government, Organised Labour and the Ad Hoc Technical Committee on Electricity Tariff said that adoption of the work plan for effecting the resolutions has been reached.

Ngige said the resolutions adopted would be implemented by all stakeholders within the week by Sunday, October 18.

According to him, the following amendments to the resolutions were adopted include, phase one immediate reliefs.

“Using of the Nigerian Electricity Supply Industry (NESI) VAT proceeds to provide relief in electricity tariff. This is to  leverage on the VAT from the NESI, the increases experienced by customers due to the transition to the Service Based Tariff will be reduced.

“That is Band A – 10 per cert reduction, Band B – 10.5 per cert reduction and Band C – 31 reduction,” he said.

He said on the acceleration of National Mass Metering Programme (NMMP). It was adopted that for the distribution of the first one million meters, the Ministry of Power was to liaise with Central Bank of Nigeria(CBN), Nigerian Electricity Regulatory Commission (NERC) and Nigerian Electricity Management Services Agency (NEMSA).

He added that they are to start work by October 12, to accelerate the roll out of meters with a target of December 2020. The minister, therefore said that the meeting agreed that it would work towards bridging the metering gap.

“The Federal Government committed to provide six million meters and NERC is expected to compel the DISCOs to meet the metering needs of the customers,”he said.

Ngige  also said on the resolution adopted for the Local procurement for Meters for National Mass Metering Programme (NMMP) that organised Labour would to work with government to improve and ramp up local production capacity.

He  also said that the resolution adpoted on  salary protection for electricity workers was that NERC should ensure that the personnel costs of electricity workers should be placed on first-line charge on the Primary Collection Account. He added that the process would commence from Monday , October  12.

“On the issue of mandatory refund for any over billing during system transition by the DISCOs that NERC should implement immediately within October. ‘While on the freezing of customer band migration during the interim period that the revised NERC order will include specific guidelines on freezing band migration, ” he said.

Ngige also noted that the resolutions adopted for Phase two for the extensive review of key sector reforms include that the ad hoc committee would work from October 12 to December 12, to ensure that all outstanding issues are resolved and implemented. He  also said the resolution adopted on gas pricing was that the Group Managing Director was co-opted into the Technical Committee to assist with the purpose.

He added that on resource capacity, the Managing Director, NEMSA is also co-opted into the Technical Committee to work with NERC on the metering assignments.

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