Nigeria Railway Corporation generated N3bn from train services in 2019 - MD

Nigeria Railway Corporation (NRC) on Friday said it generated N3.09 billion in 2019 from train service operations nationwide.
NRC generated N3bn from train services in 2019 - MD. [Nigerian Price]

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

“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.