Mr Fidet Okhiria, Managing Director of the Nigerian Railway Corporation (NRC) has revealed that the corporation generates over N80 million monthly. The figures he claims were returns alone from the Abuja-Kaduna train route.
Okhiria said the figure was higher than the N16 million generated monthly in 2017. He asserts that in spite of the increase in revenue, the corporation was yet to break even as it still spends over N100million monthly as running cost.
Okhiria disclosed that when the agency commenced operation on the route, they were earning about N16 million and spending about N56 million, but right now, we can comfortably say we earn over N80 million although we still spend over N100 million, which is closer to breaking even.
He opined that by the time the agency has more coaches and run more trains, the expenses will reduce and more patronage will come in.
The NRC boss attributed the high expenses to the purchase of diesel for generators at the train stations. He noted that all stations are powered by generator 24/7 and that about 99,000 litres are needed for that.