Saturday, 08 August 2020 04:07

FG raked in N3.1bn from railway services in 2019

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Nigeria Railway Corporation on Friday said it generated N3.09bn from railway services in 2019.

It said N1.5bn from this amount was generated from the Abuja-Kaduna rail service.

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

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

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

He named one of the stations as the Maiduguri station, which currently is not functional due to insecurity in Borno State.

Okhiria was quoted as saying, “The Abuja-Kaduna railway generated over N130m monthly as revenue.

“N90m was spent on running cost and payment of staff at the Maiduguri station, which could not operate for now due to insecurity in the state.”

The NRC boss added, “As at 2019, train operations nationwide generated about N3.09bn and we are targeting about N6bn when Lagos-Ibadan and Itakpe-Warri come on board.”

He, however, noted that with the reduction of passengers from 80 to 40 per coach in a bid to stop Covid-19 spread, the projected revenue for 2020 would be affected.