FG Losing N499m Monthly, As Abuja-Kaduna Rail Line Revenue Falls From N500m To N1m

August 31, 2023
FG Losing N499m Monthly, As Abuja-Kaduna Rail Line Revenue Falls From N500m To N1m

The Managing Director of the Nigeria Railway Corporation (NRC), Fidet Okhiria, said the revenue generated by the Abuja-Kaduna rail line has dropped by N499 million after the attack by terrorists.

Okhiria disclosed on Wednesday that the monthly revenue dropped to N1 million from N500 million generated before the bandits’ gruesome attack occurred on 28 March 2022.

Join our WhatsApp Channel

The deadly attack, which occurred between Katari and Rijana, killed eight passengers and the terrorists kidnapped some passengers only to release them after the attackers were allegedly paid to free the victims.

Okhiria said after the attack, the turnover of the Abuja-Kaduna rail line dwindled by 99.8 per cent, pushing the operators of the railway service into financial difficulties.

The insecurity has forced the Abuja-Kaduna rail line to limit its operations between 6 am to 6 pm, against their previous schedule of 6 am to 10 pm. For the rail line to break even, Okhiria said it must resume the full schedule.

“Before the attack, we were earning N500 million a month and after the attack, we were earning barely one million and we must operate and provide service to the people, which is why we are glad about the minister’s surprise visit to highlight some of these operational issues.

“Currently, we do two return trips against the 10 we were doing before that incident and we were running from 6 am to 10 pm but now we have been advised not to exceed to 6 pm. So, we are hopeful that when the security situation normalises and they are able to advise us,  we can start the full operation so that we can break even.

“We have paid two months out of the 5 months outstanding and we hope to conclude it soon. They know that before now, we don’t delay and we pay before the end of every month when everything is going on well,” Okhiria said.

+ posts

Featured Stories

Latest from Business

NAF Confirms Crash Of Helicopter Targeting Oil Thieves In Port Harcourt

Nigeria to Spend $455m on Attack Helicopters from US

By Prosper Okoye Nigeria is set to acquire 12 AH-1Z attack helicopters from the United States in a deal worth $455 million (about ₦200 billion), Prime Business Africa gathered. The Chief of the Air Staff, Air Marshal Sunday Aneke, is in the
Naira Appreciates At Official Market As Dollar Supply Rises On Friday

Black Market’s Dollar Rate Increases To N1,478/$

The Nigerian foreign exchange market (NFEM), also known as the official window, recorded no changes in the foreign exchange (FX) rate for the United States dollar (USD) on Thursday, January 8. According to NFEM data provided by the Central Bank of Nigeria
Previous Story

Funding crisis threatens Africa’s fight against neglected tropical diseases

Next Story

Death Toll Hits 73, More Than 50 Injured In South African Fire

Don't Miss

images 2021 07 27T073327.985

Dangote $1bn Cement Plant Set To Commence Operations In Edo

DANGOTE Cement is ready to commence operations on its $1
Bobrisky free again

Freed Bobrisky Launches Anti Naira Abuse Campaign

Controversial Crossdresser Idris Okunneye popularly known as Bobrisky has flagged