In recent times, efforts have been put in place by the Federal Government to modernize the railway sector. The latest development is the signing of a Memorandum of Understanding with Russia.

The MoU was signed by the Minister of Transportation, Rotimi Amaechi on behalf of Nigeria and the Chairman/Chief Executive Officer (CEO) of Joint Stock Company Russian Railway, Oleg Belozerov during the ongoing Russia, Africa Economic Forum in Sochi, Russia.

The Russian joint-stock companies involved in the MoU signing include the Russian Railway and Transmash Holding.

[READ MORE: NNPC seeks Russian firms’ partnership to revamp oil refineries]

Nigeria concludes plan with Russia to modernize railway infrastructure 

Amaechi made it known that the MoU would help hasten the construction of the rail manufacturing company at Kajola in Ogun State.

Business day

According to the statement released by the Federal Government, this collaboration would help in the rehabilitation of the Nigerian Railway Corporation rolling stock-fleet (railway vehicles, coaches etc) and upgrading of workshops in Nigeria.

What you should know: Recall that Nairametrics reported when Amaechi visited China to get locomotives and coaches for the Abuja-Kaduna and Lagos-Ibadan rail lines.

He also made mention of plans to sustain the rail system in the country by training Nigerians so that in the coming years, there would not be any need to continue the Chinese maintenance contract in both Kaduna-Abuja and Lagos-Ibadan as the Nigerian engineers would maintain them.

Meanwhile, the Russian Government is also set to support the Nigerian railway infrastructure with its plans to construct 1,400 kilometres track from Lagos to the South-South city of Calabar.

This agreement between the Nigerian and Russian Governments was reached during a meeting between President Muhammadu Buhari and Russian President Vladmir Putin.

[READ ALSO: FG, Finland partner to explore $5.4 trillion circular economy]

Apart from the railway construction, there are also talks on possible collaboration to advance the ongoing project for the establishment of a nuclear power plant in Nigeria.

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