Railway system development. The present Administration is committed
to developing the railway sector to ensure the movement of people and
freights under the aegis of Nigeria Railway Corporation (NRC). The Mass
Transit Train Service (MTTS) recently added a Lagos to Ilorin service to its
existing routes. This is necessitated by the need to complement road
transportation system which has been the dominant mode of transport in
Nigeria for over three decades.
Massive rehabilitation and extensive expansion of major Highways all
over the country, to strengthen transportation, enhance safety and improve the environment for transport dependent businesses.
Establishment of Abuja Bus Rapid Transit (BRT) System: Impressed by
the success of the Lagos BRT that impacted positively on traffic situation
in Lagos, and with the aim of easing transport gridlock that is becoming a
feature in the Federal Capital Territory, government through the Federal
Capital Territory Administration (FCTA), launched the Abuja BRT system
on 24th May, 2011.
Business Registration Reforms: In order to lessen the burden of investors
who hitherto have to deal with multiple agencies during start up and close
phases of business in Nigeria, the Federal Government, through the Corporate Affairs Commission (CAC), approved the establishment of a one –
stop – center. The CAC now has a desk at the one –stop center that facilitates business incorporation and registration for joint venture and foreign
companies. The Kwara State Government also adopted this idea by establishing a one- stop shop where investors interact with the organized private sector and civil society groups. The Bayelsa State Government also
created the office of Special Adviser to the Governor on Business Development.
5.1.3 These activities have led to an increase in the number of incorporated Companies, combined share capitals and capitalization. The demonstrable confidence reposed on the Nigerian economy by these moves also manifested in a
gradual return of foreign equity which took flight during the recent global recession.
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