Railway Corporation Generated N3bn In 2019 – MD
Nigeria Railway Corporation (NRC) on Friday said it generated N3.09 billion in 2019 from train service operations nationwide.
NRC’s Managing Director, Fidet Okhiria, said N1.5 billion of the total sum came from the Abuja to Kaduna rail operations.
A statement signed by Taiye Elebiyo-Edeni, Media Assistant to the Minister of Transportation, quoted Okhiria as saying that the Abuja to Kaduna rail line generated about N130 million monthly in 2019 as against the N80 million generated in the previous year.
The NRC MD further said that the money generated from the Abuja-Kaduna rail operations was used to service other stations in the Northern region, like the Maiduguri stations.
“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 about N3.09 billion and we are targeting about N6 billion when Lagos-Ibadan and Itakpe-Warri come on board,” he said.
The NRC boss, however, noted that the onset of COVID-19 pandemic in the country would affect the projected revenue for 2020.
”With the reduction of passengers from 80 passengers to 40 passengers per coach, the revenue that would be generated for 2020 would definitely be affected. Except if the hourly train is properly implemented,” he added.