The Nigeria Railway Corporation, (NRC) has duaclosed that its target is to generate about 6 billion naira from Lagos-Ibadan and Itakpe-Warri train services when it commences operations.
Engr. Fidet Okhiria, the Managing Director of NRC disclosed this in a statement signed by Mrs Taiye Edeni, Media Assistant to the Minister of Transportation, noting that although N3.09 billion was generated from train service operations nationwide in 2019, N1.5billion was not generated from the Abuja-Kaduna train service alone.
According to Okhiria , Abuja-Kaduna rail line generated about N130million monthly revenue in 2019 as against the N80million generated in the previous years due to the breaking even of the rail line.
He further disclosed that the money generated from the Abuja-Kaduna rail services was used to service other stations in the North, such as the Maiduguri stations which is not functional at the moment due to insurgency.
“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.
He however, said the reduction of passengers from 80 passengers to 40 passengers per coach due to Covid-19 guidelines, would have a toll on the revenue that would be generated for the year 2020, except the hourly train is properly implemented.
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