Pulse.ng : RPMCL reaffirms investment drive to boost nation’s economy

Mr Kayode Opeifa, the Managing Director of Nigeria Railway Corporation (NRC) in group photograph with NRC staff and some members of RPMCL in Kaduna

By Moses Kolo

The Management of Railway Property Management Company Limited (RPMCL) says it is committed to boosting investment drive in railway infrastructure all over the country so as to yield dividends.

Mr Kayode Opeifa, the Managing Director of Nigeria Railway Corporation (NRC) disclosed this on Wednesday during a special visit to RPMCL Kaduna.

Opeifa, who also doubles as the Board Chairman of RPMCL, expressed satisfaction with the strides recorded by the company, saying that the visit was to explore alternative revenue sources.

He said: “Railway is very capital intensive and the government is spending so much on rail so that when it comes to operations, it is difficult to meet up operational expenses.

“So railway acquires business interests and the country, the business interests are in the landed properties entrusted by law to the Nigeria Railway.

“We will work with the management to ensure that the investments of the Nigerian government and the citizens in railway infrastructure all over the country yield devidends through efficient management of resources without over charging clients.

“We will ale sure that the resources are out to the best use in resolving repayment of many of the obligations of Nigerian government”.

Opeifa commended the brief from the Managing Director of RPMCL, Timothy Zalanga, saying that that it was obvious the company was doing well.

“We have also observed from the brief, issues and challenges that need public and government attention including alleged court action and the loss of two staffers in one of the states.

“On behalf of the NRC, we promise to work with the Ministry of Transportation and the Federal Government to resolve many of these issues and give this company all the necessary support at the level of the Board.

“We will not interfere with the day today running of this company instead, at the Board level, we will exercise our oversight responsibility,” he said.

Opeifa, however, urged members of the public to peer with the RPMCL, stressing that the company does not sell landed properties.

According to him, the firm is only in the business of adding value to railway lands for greater revenue generation.

“People should understand them without putting undue pressure on them,” Opeifa added.

Earlier in his brief, Mr Timothy Zalanga, the Managing Director of RPMCL, said part of the responsibilities of the company included the identification and preparation of a comprehensive list of all NRC land and landed properties across the country.

He added that they also included the commercialisation and management of non operational NRC land abandoned structures and such other landed properties of the NRC.

Others included: Partnerships, joint venture or any arrangement with any company or persons carrying on the business of real estate or any business capable of being conducted directly or indirectly to the benefit of the company.,

Others, he said, were investments of funds in revenue yielding ventures after due consultations with the board amongst others.

Highlighting on the company’s recent achievements, Zalanga said there had been an increase in the assets base of the company by embarking on commercial outlets such as; markets, shopping malls, hotels and estates, among others.

He listed others to include redevelopment of delapidated railway properties, the construction and rehabilitation of offices in Lagos, Ibadan, Enugu, Kaduna, Minna, Kano, Bauchi and Port Harcourt.

Other achievements, according to the MD, included the introduction of modern management tools and techniques and the provision of working tools.

This, Zalanga added, was to ensure improved operations, migration and conversion of all NRC land information to full GIS with a link to the existing data base.

Zalanga, however, mentioned that amongst the issues the company faced included; increasing litigations, dual identity and default in the payment of rental obligation, enforcement and forceful take over.

Other challenges included; insecurity, negative insinuation, shortage of manpower and monetisation case.

He said: “Organisations are increasingly realising the potentials of property resources in meeting their core objectives, hence the strategy by NRC to set up RPMCL to support it’s core objective as an alternative revenue source (ARS).

“In achieving the above objectives, RPMCL is aggressively pursuing the recovery of all enruched NRC lands, recovery of all rental debts.

“It is also pursuing the regularisation of illegally occupied properties, commercialisation of delapidated structures and surplus lands as means of improving revenue to support rail operations.

“RPMCL acknowledges and appreciates the efforts of the current administration in reviving the railway sector and by extension it’s interest in the activities of RPMCL.” (NAN)