The Nigerian Railway Corporation (NRC) and the South-East Development Commission (SEDC) are collaborating to improve rail infrastructure, a move expected to enhance trade and logistics for small businesses in the region.
During a visit to NRC's headquarters in Lagos, SEDC's Managing Director, Mark Okoye, discussed plans to integrate railway expansion into the commission's economic roadmap, which aims to grow the region's economy from $40 billion to $200 billion by 2035.
NRC Managing Director, Kayode Opeifa, emphasized that an efficient rail network is crucial for reducing transportation costs, improving market access, and driving small business growth.
He highlighted ongoing projects, including the rehabilitation of the eastern corridor railway line, which will restore connectivity between key cities in the Southeast and other parts of Nigeria.
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Okoye noted that reliable transport infrastructure would help small manufacturers and agribusinesses expand their operations.
He also outlined SEDC's goal to create an investment-friendly environment, attract private sector participation, and establish an investment fund to support regional businesses.
The visit also included discussions on making infrastructure projects bankable, reducing reliance on government funding, and ensuring sustainable development for local enterprises.
With this partnership, small businesses in the Southeast could benefit from improved logistics, lower costs, and better access to larger markets.
