The Nigerian Minister of Transportation, Rotimi Amaechi, has revealed that the Abuja-Kaduna train service earns at least three hundred million naira (N300,000,000) every month for the government.
According to Amaechi his ministry is starting to contribute to the country’s economic prosperity.
“We make N300million per month from the Abuja-Kaduna train,” the minister declared.
“Right now, we’re running Lagos-Ibadan on the money we’re making from the Abuja-Kaduna train service,” he said, adding that “at the end of the day, we pay back over N100 million to the federal government.”
Amaechi, a former governor of Rivers State, also revealed that the government intends to add roughly 16 trains to the Lagos-Ibadan rail route, claiming that this will boost revenue generation on the line.
When asked about the cost implications of the rail system’s developments, the minister stated that the government is capable of meeting its loan obligations.
Earlier this year, Amaechi said that the Federal Government had borrowed $2.5 billion to build a railway connecting Lagos and Ibadan.
In addition, when asked about the debts incurred in the development of the rail transportation system, the minister expressed confidence that “Nigeria has the potential to pay back,” adding that repayments had already begun.
Freelanews is a potpourri of news, entertainment, business, events and photos. This is no fake news.
Discover more from Freelanews
Subscribe to get the latest posts sent to your email.
