The N1.3 trillion savings expected to be realised from the planned removal of oil subsidy will be invested in the development of key infrastructure in the country, the Minister of Information, Mr. Labaran Maku, has said.

Maku, who disclosed this recently in Abuja noted that the policy would yield enormous benefits to Nigerians.

He said government would not just stop at removing the subsidy but would invest the funds in developing key infrastructure in the country.

Maku said that with the removal of subsidy, the few oil importers who have been shortchanging Nigerians would have no such opportunity as corruption would cease in the sector.

“Immediately the subsidy is withdrawn, the idea of spending N1.3 trillion on a few oil importers would end: the corruption that is associated with it would disappear.

“Secondly the money that government is borrowing and wasting on subsidy would now be transferred to deal with issues of infrastructure.

“We want real mass transit in the country: you can’t talk of mass transit without the railways, government has decided to rehabilitate all the existing railway lines in the country to make them functional.

“Already 25 trains have been imported, we want to make sure that this rehabilitation is quickly expeditiously carried out; already the line from Lagos to Kano has been rehabilitated up to Jebba.”

According to Maku, work is also going on the rail line between Zaria and Kano while work has also started on the Standard Gauge between Abuja and Kaduna.

The minister said that the lines between Port Harcourt and Enugu to Otukpo, Markurdi, Lafia, Kafanchan, Jos, Gombe and Maiduguri would also be rehabilitated.

He said that the lines from Gudi in Nasarawa State would also be connected to Abuja, adding that when completed people could travel from Abuja to Port Harcourt by train.

Maku said that some private sector operators have indicated interest in the construction of a speed train line from Lagos to Abuja.

“That is the mass transit we are talking about; it would make our roads safer, it would reduce the level of vehicles on our roads, in addition to that, it will make it cheaper for Nigerians to travel to the rest of the country.

“Even the elite that are going by air now, they would find cheaper ways of travelling: this is what is going to develop Nigeria.

“And then this capital cannot come from government: government money cannot do these things; therefore the rail system would be completely restored and Nigerians will have alternative means of transportation.”

He said that the government would also deliver on all the roads in the country once the fund used in subsidising fuel was withdrawn and invested in the right places.

“We want to deliver on all the roads: the East-West roads, the Ore-Lagos-Benin road up to Port Harcourt: the Abuja-Lokoja-Benin road will be rehabilitated: the Maiduguri-Kano road will be completely built.

“The Oweto bridge which crosses Benue and Niger will be built, all these we are going to deliver.”

Cue-out audio 3 (Maku on infrastructure)

He disclosed that part of the money from the subsidy removal would be directed towards the power plants as part of measures to stabilise electricity supply in the country.

According to the minister, the Mambilla Power Plant, which will be the biggest hydro-electric project in West Africa with a capacity of 2,600 megawatts, will also be built from the money that would be recovered.

Cue-in audio 4 (Maku on infrastructure)

“Plans have been concluded, immediately this subsidy issue has been put behind us, work on that plant will take-off: we are going to make sure that all existing dams in the country will generate electricity.

“So part of this money, 1.3 trillion would go into speeding up the stability of electricity supply in Nigeria.”

Maku said government would deliver on its promises within the next three years so as to guarantee adequate and stable power supply while tackling the problems of unemployment in the country.

On Agriculture, the minister said that the Federal Government was planning a whole scale programme of growing rice to make Nigeria self sufficient in rice production.

He said that about 400 metric tons of rice would be produced in areas with comparative advantage in rice production in the country. (NAN)