Nigeria generates N3bn from rail services in 2019
Nigeria Railway Corporation, NRC, on Friday said N3.09bllion was generated in 2019 from train service operations nationwide with N1.5billion generated from the Abuja-Kaduna rail service.
Fidet Okhiria, the Managing Director of NRC disclosed this in a statement signed by Taiye Elebiyo-Edeni, Media Assistant to the Minister of Transportation in Abuja.
According to him, Abuja-Kaduna rail line generates about N130million monthly revenue in 2019 as against the N80million generated in the previous years noting that the rail line has been able to break even.
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 comes on board,” he said.
However, with the reduction of passengers from 80 passengers to 40 passengers per coach, would definitely affect the revenue generated for the year 2020, except if the hourly train is properly implemented.