NRC earns N3.09 in 2019; drop likely due to COVID-19

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THE Nigeria Railway Corporation (NRC) on Friday said it generated N3.09 billion in 2019 from train service operations nationwide.

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

According to him, N1.5 billion of the N3.09 billion in 2019  came from the Abuja to Kaduna NRC 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.

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