• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Friday, August 8, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Economy/Technology

Nigeria targets N7.01bn from train passengers by 2025

Train

The Matters Press by The Matters Press
May 28, 2023
Reading Time: 2 mins read
0
Itakpe-Warri rail kicks off after 30 years

Rail

The Federal Government targets revenue of N7.01bn from train passengers by 2025.

RELATED POSTS

‎Obi’s One-Term Proposal, a gambit to grab power at all costs -Group ‎

National Single Window initiative, a major step for efficient cross-border trade – TMSG

‎Group celebrates 45% increase in federal revenue in just one month

This was according to the Nigeria Agenda 2050 document recently launched by the outgoing President General Muhammadu Buhari.

At the launch, Buhari said that the implementation of the document would “ensure that Nigeria attains a per capita GDP of $33,328 per annum to place her among the top middle-income economies globally by 2050.”

Buhari said the plan would also increase real GDP growth by seven per cent, create 165 million new jobs and reduce the number of Nigerians living in poverty to 2.1 million in 2050 from the 83 million estimated in 2020.

The document further showed that the Federal Government targets up to N30bn by 2050 from train passengers.

The PUNCH recently reported that The Federal Government spent $247.98m (which amounts to N111.23bn using the Central Bank of Nigeria’s December 30, 2022, the official exchange rate of N448.55) servicing railway debts in the last two years while making only N11.61bn from railway services during the period.

According to data from Nigeria’s external debt service payments reports by the Debt Management Office, Nigeria spent $125.06m servicing debts incurred for the Nigeria Railway Modernisation Project (Idu-Kaduna Section), Nigeria Railway Modernisation Project (Lagos-Ibadan Section), Nigeria Abuja Light Rail Project, and Nigerian supply of rolling stocks and depot equipment for the Abuja light rail project in 2022.

By 2022, train service revenue was N5.57bn from passengers, goods, and other income receipts.

Also, in 2022, the number of passengers was 3.21 million, while goods were 118,587 tonnes.

The growth of the country’s rail services has been hampered by Insecurity and mismanagement. In March 2022, an Abuja-bound train was attacked in Kaduna by terrorists. Also, suspected kidnappers attacked another train in the Igueben Local Government Area of Edo State on January 7, 2023.

Also, rail derailment is almost becoming a constant in the sector, further discouraging passengers from relying on rail services.

After the attack on Kaduna-Abuja rail services in 2022, the Managing Director of Nigeria Railway Corporation, Fidet Okhiria, disclosed that the Federal Government lost about N113m because of the non-operation of trains on the Abuja-Kaduna route.

Punch

Tags: Train
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

Obi, PDP candidate advises Buhari to increase tempo
Economy/Technology

‎Obi’s One-Term Proposal, a gambit to grab power at all costs -Group ‎

August 7, 2025
Importers face delays, higher costs on Red Sea woes
Economy/Technology

National Single Window initiative, a major step for efficient cross-border trade – TMSG

August 4, 2025
Chatham House stance on Nigeria’s economy, a non-biased assessment of  reforms
Economy/Technology

‎Group celebrates 45% increase in federal revenue in just one month

July 28, 2025
POLICY STATEMENT 027 BY THE INDEPENDENT MEDIA AND POLICY INITIATIVE (IMPI)
Economy/Technology

Alleged Wasteful Turn Around Maintenance (TAM) of Refineries: Setting the records straight

July 25, 2025
Dangote Fertilizer in gas supply deal
Economy/Technology

IMPI seeks forensic audit of refineries from 2000 to 2023 ‎ ‎

July 25, 2025
Nigeria’s Dangote refinery will cut Africa’s petrol import by 36%
Economy/Technology

‎ADC erred, APC administrations never spent $18bn on refineries-IMPI ‎

July 25, 2025
Next Post
Nestle train 30,000 farmers to meet demand

Nestle core investor acquires additional 40,000 shares

NEPZA seeks lawmakers’ robust budget for SEZs

NEPZA commends FG, NPA on SIIFZ port expansion agreement

Recommended Stories

Saturday’s by-elections not good for PDP

Saturday’s by-elections not good for PDP

November 18, 2018
Stable petrol supply excites Buhari

Ijegun Satellite depot begins distribution of 150m litres petrol to ease scarcity

February 10, 2023
Ghana enters first recession in 30 years, but sure of rebound

Ghana enters first recession in 30 years, but sure of rebound

December 19, 2020

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • ‎Obi’s One-Term Proposal, a gambit to grab power at all costs -Group ‎
  • National Single Window initiative, a major step for efficient cross-border trade – TMSG
  • ‎Group celebrates 45% increase in federal revenue in just one month

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us