Nigeria Railway Corporation generated N3.1bn from services in 2019

Nigeria Railway Corporation generated N3bn from services in 2019

Nigeria Railway Corporation (NRC), said it generated a total of N3.09 billion in 2019 from train service operations nationwide.

The NRC Managing Director, Mr Fidet Okhiria, disclosed this in a statement signed by Mrs Taiye Elebiyo-Edeni, Media Assistant to the Minister of Transportation.

Okhiria also stated that N1.5 billion of the sum came from the Abuja to Kaduna rail operations.

Okhiria said that the Abuja to Kaduna rail line generated about N130 million monthly in 2019 as against the N80 million generated in the previous year.

He 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.

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“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 coronavirus 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.

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