RAILWAY LOAN (INTERNATIONAL BANK) (REPEAL) ACT, 2017

RAILWAY LOAN (INTERNATIONAL BANK) (REPEAL) ACT, 2017

What Is This Policy?

An Act that repeals the outdated Railway Loan (International Bank) Act, removing obsolete legislation relating to a specific World Bank railway loan that has long been repaid and discharged.

Who Does It Target?

Federal Ministry of Finance for legislative hygiene Nigerian Railway Corporation in its legal framework National Assembly as part of statute book review Legal and regulatory reform process

What Does It Aim to Achieve?

Clean up Nigeria's statute books by repealing outdated and spent railway loan legislation, contributing to the ongoing legislative reform process.

Key Features

Repeal: Formally repeals the Railway Loan (International Bank) Act and removes it from the statute book. Legislative Hygiene: Part of a programme to repeal spent, inconsistent, or irrelevant Acts from Nigerian law. Legal Certainty: Removes potential for confusion from the continued existence of obsolete legislation. Savings Provisions: Preserves any rights or obligations that validly arose under the repealed Act before its repeal.

Current Status

Rollout Stage: Active Coverage: Nigerian statute book Beneficiaries: Legal clarity; statute book integrity Funding: Federal Government

How to Access

No direct public access required; legislative measure only Application method: Not applicable.

Official Resources

Website: https://www.nass.gov.ng Contact: National Assembly

Legal Framework

Enacted under the legislative powers of the National Assembly vested by Section 4 of the 1999 Constitution (as amended) to repeal the Railway Loan (International Bank) Act. Aligns with the statutory clean-up mandate under the Laws of the Federation of Nigeria revision process. The Nigerian Railway Corporation Act and the Infrastructure Concession Regulatory Commission Act govern current railway financing arrangements.