jumper524:
no wonder Buhari led administration has been investing so much on railway projects...
if pdp had take this works seriously in thier 16years rule only God knows how much we would be making by now..

seunmsg:
Massive investment in infrastructure is how to grow the economy. So many jobs are created along the line while the projects initial capital is recouped over a period of time.

The revenue generated so far should be reinvested in the sector until all the states in the country are connected by rail.

Nascad:
And they keep borrowing even to fund the budget.

theoldpretender:


In fairness to PDP...they did start the railprojects...and completed some before they left power in 2015.

It is very good to see APC continuing with the projects though....we need railways.

jumper524:
no wonder Buhari led administration has been investing so much on railway projects...
if pdp had take this works seriously in thier 16years rule only God knows how much we would be making by now..

manutdadex:
Nigeria’s high speed rail project initiated by President Goodluck Jonathan has been rated among the global top 100 world-class infrastructure projects by KPMG.
The rail will connect Lagos, Kano, Kaduna, Warri, Bauchi, Abuja, and Port Harcourt and will cost the country $13 billion, much of which will be financed with a loan from the Export Import Bank of China.
The China Railway Construction Corporation has secured the contract to build the 3,218-kilometre network, which will be digitally operated using fibre-optic cables, radio communication and wireless services.
The project is designed to cover 54 stations and will take 25 years to build.
In the report, The Infrastructure 100: World Markets Report, the KPMG panel of judges said the project “will remove heavy freight from Nigeria’s stressed roads, could save the country millions on road maintenance”.
Other African projects on the list are: Khi Solar One (South Africa), Square Kilometer Array (South Africa), PRASA Rolling Stock (South Africa), Kudu Gas Field and CCGT Project (Namibia),Trans-Saharan Natural Gas Project (Nigeria to Algeria), Mombasa-Kigali Railway (Rwanda), KivuWatt (Rwanda), Jinja Bridge (Uganda), and Jomo Kenyatta International Airport Terminal (Kenya).
In its note, KPMG said the report highlights key trends driving infrastructure investment around the world.
A global panel of industry experts identifies 100 of the world’s most innovative, impactful infrastructure projects showing how governments are coming together with the private sector to overcome funding constraints to finance and build projects that can improve quality of life – both solving immediate needs and planning for future societal demands.
The report looks at infrastructure based on the dynamics of four key markets: Mature International Markets (like Canada, Australia, and UK), Economic Powerhouses (including the US and BRIC countries), Smaller Established Markets (like Chile, Sweden, New Zealand, Korea and South Africa), and Emerging Markets (including a number of economies in Africa).

emerged01:
We need more of railway projects. PMB deserves another four years.

Oblang:


Which ones were completed b4 leaving?

seguno2:


Are you sure that you know what you are talking about

seguno2:


Another four years of continuing what PDP initiated without his own projects

Lagoscooldude:
Between January and June this year, the Federal Government generated a total amount of N1.16bn from the rail transportation system.

The figure was contained in a report on the railway sector, which was prepared by the National Bureau of Statistics.

The N1.16bn, according to the report, was generated from two main revenue sources.

These were passengers, from whom a total amount of N849.01m was generated during period; and cargoes from which about N310.36m was earned.

A breakdown of the N849.01m revenue showed that the sum of N435.96m was generated from passengers in the first quarter of this year, while the balance of N413.05m came in during the second quarter.

From the transportation of cargoes, the report stated that the government generated N159.08m in the first quarter, while the second quarter recorded N151.28m as revenue.

The report read in part, “Revenue generated from passengers in Q2 2018 was put at N435,965,777 as against N413,057,019 in Q1 2018.

“Similarly, revenue generated from goods/cargo in Q2 2018 was put at N159,079,963 as against N151,279,394 in Q1 2018.”

Further breakdown of the performance of the sector showed that 730,289 passengers travelled through the rail system in the second quarter of this year as against 748,345 passengers recorded in the first quarter.

This represents a decrease of 2.41 per cent during the period under review.

Similarly, the report noted that 85,816 tonnes of goods/cargoes travelled through the rail system in the second quarter as against 79,750 tonnes recorded in the first quarter.

The Minister of Transportation, Rotimi Amaechi, had recently said the Federal Government was subsidising railway transportation, adding that the development was making the government to lose about N40m monthly in revenue.

He stated, “We are still under pressure to have more locomotives and more coaches because more people are now using the rail. But you know typical Nigerians, they like free things.

“We spend N56m per locomotive, and we get N16m. If we increase it (the fare), you will start abusing us. But you see, it is subsidised. So, the government is subsidising you.”

Source: https://punchng.com/fg-earned-n1-16bn-from-rail-in-six-months-nbs/