Finance
FG Deepens Growth in Transport Sector, Approves N10bn Support Package
FG Supports Transport Sector With N10bn Fund
Following the negative effects of COVID-19 on the transport sector, the Federal Government has approved a N10 billion support fund to support transporters and protect jobs in the sector.
The Minister of State for Transportation, Gbemisola Saraki, disclosed on Wednesday when Isaac Uhunwagho, the President of Public Transport Owners of Nigeria Association, led National Executive Committee and Trustees to pay her a courtesy visit in Abuja.
The minister said the N10 billion would help mitigate the impacts of COVID-19 on the sector.
She explained that the support fund is with Nigeria’s Federal Ministry of Industry, Trade & Investment, adding that her ministry is working on the modalities for the fund disbursement.
Saraki said around 90 percent of Nigerians travel by the road, therefore, the reform of the sector remains imperative to government. This, she said includes addressing challenges operators faced in the sector.
She added that she was in talks with the Federal Ministry of Works and Housing on the concession of some routes, which according to her, was the best way to increase government revenue.
