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FG Generates N3.09bn From Railway Services In 2019

A total of N3.09bn was generated from railway services in 2019, according to the Nigeria Railway Corporation (NRC).

NRC Managing Director, Fidet Okhiria made the disclosure in a statement signed by Taiye Elebiyo-Edeni, Media Assistant to the Minister of Transportation in Abuja.

He said the Abuja-Kaduna rail line generated about N130m monthly in 2019, as against the N80m generated in the previous year.

Okhiria said the rail line had been able to break even, adding that the money generated from the Abuja-Kaduna rail service was used to service other stations in the North.

FG Generates N3.09bn From Railway Services In 2019

He further said that the money generated from the Abuja-Kaduna rail service was used to service other stations in the North, like the Maiduguri stations which is not functional at the moment cause of Covid19.

“The Abuja- Kaduna railway generated over N130 million Monthly revenue, with N90 million spent on running cost and payment of staff at the Maiduguri stations which could not operate for now due to insecurity in the State.

“As at 2019 train operations nationwide generated is about N3.09billion and we are targeting about N6billion when Lagos-Ibadan and Itakpe-Warri come on board,” he said.

Okhiria noted that with the reduction of passengers from 80 to 40 per coach in a bid to curb the spread of COVID-19, the projected revenue for 2020 may be affected.

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