Paucity of funds has delayed the commencement of the N110 billion metroline rail system being proposed by the Federal Capital Territory Administration (FCT).

FCT Minister Aliyu Modibbo Umar, who expressed this concern in Abuja, said the amount budgeted for the project by the last administration is not enough to carry out the project

The Minister said the project can only be embarked upon if it can be funded by the private sector or through the public treasury

This, he said will take a long time for the project to be completed

Modibbo, while insisting on handling the metroline rail system to private sector said: "If the private sector should embark on the project, , it has so much potentials and not only that, we want to even concession all the lands by the rail line to whosoever is going to pick that."

This according to the minister would enable private investors to recoup their investment in a short time.

He, however assured that the administration in collaboration with organised private sector and the Chinese company handling the project would fast track the process by the end of the year.

"It’s a long way to go, to be honest with you, we still have a long way to go, but we are hoping that the Chinese contractors are still around but before the end of the year we can start the process."

Umar disclosed that arrangements are in top gear for the commencement of ‘park and ride’ initiative under the new transport programme.

"They have already identified three sites. They are clearing the sites now where we are getting private operators for the park and ride where people will park their cars and these taxis and buses will pick you into town and after your business you go back and pick your car."

The minister, who expressed the administration’s willingness to boost its internally generated revenue base, said efforts will be made for provision of subsidy for the vehicle operators.

"We are going to increase our revenue base, immediately we increase our internally generated revenue base, we will make sure we give a little subsidy to the operators."

On the scheme, the minister tasked managements of Oceanic Bank and Abuja Leasing Company (ALC) to work out modalities to extend the tenure of the facility to enable people access the facility.

"I will beg of our banks to increase the tenure of the facility. Even though I know that the life of the taxi may not be more than four to five years, but at least let’s increase the tenure so that the operators will have long time and lower monthly payment because I saw the monthly payment of N80,000 and the down payment of N600,000 to N800,000 a little bit on the high side."

This according to him has greatly discouraged the level of patronage of the vehicles.

He also challenged ALC and the drivers to reduce the fare of the vehicles to as low as N50 and N100 to enable many people benefit from the facility.

To sustain the initiative, he promised that the administration will work out modalities to subsidize the project. With this, he opined that about 2,000 additional fleet will be added to the 1,000 ALC vehicles within two months.

Umar, who commended the initiative reiterated the administration’s resolve to expedite action on the commencement of the Abuja metroline which is presently stalled by fund.

According to him, FCT Administration is committed to give transportation a sound base that would enable the Organise Private Sector to build and develop on.

He stated that the Public-Private-Partnership (PPP) of the FCT Administration is really providing the needed services to the residents of the FCT.

Source: The Nation