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this administration. The hitherto flared gas is being channeled into gas powered projects for rapid utilization and monetization with a view to maximizing value addition to the nation's natural gas resource by 2010. (iv) Transport Nigeria has a road network of about 193,000 km with a carriage of over90% of domestic passengers and freight. The country's roads have fallen into despair through years of poor maintenance and lack of new construction; rural areas remain underserved and just 31% of the network is paved. The decline of the road infrastructure is partly due to the institutional and financial weakness of the state and local governments who are responsible for the majority of the roads which put together constitute 83% of the network The Federal Government of Nigeria (FGN) budgeted US$788.7 million in 2008 for improvements and maintenance in the transport sector, up, from US$108.8 million in 2007. The FGN has taken steps to remove the transport sector from the governance of public bodies that had presided over the disintegration of the existing transport network. Consequently a new transport policy was produced for the country. Several bills awaiting passage were sent to parliament. These bills include The National Transport Commission Bill, which provides for the establishment of the National Transport Commission (NTC) as a multi-sector regulator. The NTC will implement the government's strategy of aggressively seeking private sector participation in the redevelopment of the transport sector.. Other bills include: the Roads Bill, The Nigerian Railway Bill, the Ports and Harbour Authorities Bill and Nigerian Inland Waterways Bill. Also, to show the level of its commitment especially in its bid to improve the infrastructural facilities in the country and create a solid economy for sustainable development and inflow of FDI, the federal government recently undertook the following: • The establishment of Infrastructure Concession Regulatory Commission (ICRC) is a systemic approach adopted by the government to introduced private sector funds into building, maitenace and repair of all infrastructural facilities in the country, the recent concession of the Lagos- Ibadan highway to a foreign construction firm at the tune of N90billion is one of these commendable efforts of the present government. 45

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