The Lagos State Government has announced plans to concession the operations of its Red and Blue Line rail systems to private sector operators, aiming to enhance sustainability and manage the loan repayments for the projects.
Commissioner for Transportation, Oluwaseun Osiyemi in an interview, mentioned that the move is a part of broader measures to maintain efficient operations.
He also highlighted that the concessioning process would involve granting private firms the operational rights for a set period, ensuring professional oversight and steady management.
According to Osiyemi, this strategy is expected to foster continuity, enabling the state to repay loans acquired for the rail systems and to achieve a high standard of service for Lagos commuters.
