Railway Property Company To Recover Debts On Leased Lands

The Railway Property Management Company Limited has engaged the services of two private firms to recover the debts from lands leased to some public, private and religious organisations.

The firm took the decision following the lack lustre attitude of some occupants of railway lands in some states towards payment of lease fees on such lands.

Similarly, the company is developing a digitalised Geographic Information  Portal indicating the space limit interested investors can acquire land on lease for investment around the railway corridor.

The managing director/CEO of Railway Property Company Limited, Mr Timothy Zalanga, who dropped this hint in an exclusive interview with LEADERSHIP in Lagos, said, the digital portal, when developed, can be accessed by members of the public so as to guide against encroachment of railway land.

According to him, hitherto, some public institutions like the Nigerian Customs Service(NCS), Nigerian Army, amongst others, have encroached on railway land without payment of premium, adding that, the company is currently compiling the debt profile of such agencies with a view to ensuring that the debts are recovered by the debt recovery companies appointed.

He disclosed that, already, two private debt collectors have been engaged to collect debt on behalf of the company.

Zalanga also said that, apart from involving in direct investment in the construction of a guest house in Lagos, the company has concluded plans to construct one each in Kaduna, Jos and Port-Harcourt, adding that, the management of the hotel will welcome the idea of private sector managing the Lagos guest house based on agreement.

He pointed out that the company also plans to construct shops around Marine beach, Murtala Mohammed Way in Lagos, just as a modern city and shops will be built in Kaduna.