Ovamboland:


When private investor's are turning a loss in UK where people can afford high ticket tag will they turn a profit in Nigeria where ticket is less than £5 and people complain it's too expensive.

That's my point, the entire project is waste of money

otokx:


It is do able, once took the rails from Aberystwyth to Nottingham and down to London in one day. Actually wept when I got to St Pancras International - a story for another day. There is so much potential in Nigeria, the multiplier effect will be massive.

Tell me the story ooo. What happened? Yes Nigeria has lots of potentials but will greed allow?

Kayberg:
Soon, they'd tell us they're subsidizing rail transportation too…
Una well done sirs and ma'ams.

It is very hard to make money on railways, the majority of them are subsidies even if they are privatised.

azpekuliar:
Yet another Federal Government money pit. Generated N1.1bn and wants N61bn for operational costs. Tueh!

Money laundering corporation.

ORDINARY shame no fit catch them.

poiZon:
According to buhari, there r 3 functional raillines operational in Nigeria, with new coaches, lets assume they r operating on a clean slate, that's no debt profile... At the end of the year, u generate 1billion, and ur staffs salaries is 9billion naira. We aint factoring cost of maintenance and other sundry issues, u now go to ur investor that u need 60billion naira for another year to run the business. Where will the investor take money from and give u?
Meanwhile the business i gave u to manage, na loan i use take set am up, we r not even talking of repayment yet.
A sensible manager will want to make good profits, but this one is even proposing recruiting more hands to damage and cripple the already failed business

The staff were in place collecting salary even when there was no train and they generated almost zero.

Nigerian railway corporation doubles income, earns N2.12 billion revenue in H1 2021


https://nairametrics.com/2021/09/16/nigerian-railway-corporation-doubles-income-earns-n2-12-billion-revenue-in-h1-2021/

Fake and misleading rubbish.

1. NRC generated N2.12 billion as revenue in the first half of 2021, not the fake figure in the useless article

2. In business, what you earn doesn't determine how much you need to spend to improve your services to generate more money accelerated growth.

3. The items listed to be addressed with the N65 sounds very legitimate and necessary if the NRC truly wishes to scale up and maximize profit, you can not.

As they say, you have to spend money to make money, especially considering the fact that NRC did not generate or remit 1 kobo before 2014, it was nothing but a money sinkhole.

One thing I always pray for is for God to never let these lazy and unintelligent youths anywhere near public office or any decision-making public apparatus. They are just too ignorant, unintelligent, shallow, vision less and hopeless.

Naija na just comedy film

Nigeria’s revenue from train transport surges to N926.7 million in Q1 2021

The total revenue made by the Nigerian railway corporation in the first quarter of 2021 surged by 33% to stand at N926.72 million compared to N698.4 million recorded in Q1 2020

https://nairametrics.com/2021/06/25/nigerias-revenue-from-train-transport-surges-to-n926-7-million-in-q1-2021-driven-by-increased-fares/
.

We are just getting started...

Samunique:


Generates 1.13 billion ?

demands 61.5 billion for maintenance?

Hahahahahaha

Nigeria my country !!!

Make I join u laf

poiZon:

Outside the purchase and other inclusives, is it profitable venture whrn ur staff wages outweigh ur monthly revenue?

you are right we all awere that this new start up services with time they would pass brake even if they don't siphon

Why does Lagos Ibadan line need 1000 people How many people are an the train at any given time. Max 2 is drivers and 5 attendants. When with maintenance staff I still struggle with 1000 staff

New freight wagons just land to transport industrial and commercial goods, many trailers are going to be off our roads...

We are just getting started...

SocialJustice:
Many articles online by Nigerian newspapers, I can't post link here to avoid ban. There are reports of contract inflation by at least 100% compared elsewhere.

How much is SGR per kilometer and how much did Nigeria pay? That's a simple question for anyone who knows what he's talking about, not referencing some phantom website

tctrills:

2 things here. First it would have been great if you have figure to show how profitable ABJ-KAD route is. Then we could talk about it.
Now I am not saying some crazy innovation can not turn things around in the rail sector it certainly can but you make it sound so easy in your pitch.
High speed rail is not profitable in China,USA, UK and many other countries we look up to so any one would make it profitable in 9ja has to much more than you suggested.
Our leaders made decisions in their usual lazy and corrupt manner and now all ofor us and maybe our children would pay the cost of a useless ptoject.
I really hope the private sector could take over the rails. But it's not something must businesses are looking to own.

That means the whole world must have been so foolish to own and build trains with billions been invested in new facilities, training and education till today.

Only nairaland poster are wiser than the rest of the world and if they ran the world countries railway would not have existed because it's not profitable or make money?

tctrills:

That's my point, the entire project is waste of money

Even UK is currently wasting £100bn building a high speed rail of about 190km, oh if they had employed you as their Prime Minister instead of Boris Johnson, they would have automatically saved £100b.

You are wiser than the wisest

Reluwe no be good business jor.

Ovamboland:


That means the whole must have been so foolish to own and build trains with billions been invested in new facilities, training and education till today.

Only nairaland poster are wiser than the rest of the world and if they ran the world countries railway would not have existed because it's not profitable or make money?

I think some people always have the mentality that if something has failed elsewhere, it is bound to fail here.

You have concluded it in your most recent comment. Some are wiser than the wisest.

Bluntemperor:


Bro,you saw it, it's incredible,yet someone with a heart could proposed such a Budget: very wicked and disastrous!
The same for most Parastatals both in Federal and States.Most of these Ministries are just money guzlars, nothing more.it is a sign of how bad things are as there is no improvement to do better and they would not like the Experts to venture in because of Corruption!

My brother, it's incredibly unbelievable!!!

Ovamboland:


Even UK is currently wasting £100bn building a high speed rail of about 190km, oh if they had employed you as their Prime Minister instead of Boris Johnson, they would have automatically saved £100b.

You are wiser than the wisest

The UK tax payers can afford it not one of the poorest countries in the world.

You believe we have to copy everything advance nations do?

Let me ask you a direct question, mention the advantage of high speed rail to our economy.

Ovamboland:


That means the whole must have been so foolish to own and build trains with billions been invested in new facilities, training and education till today.

Only nairaland poster are wiser than the rest of the world and if they ran the world countries railway would not have existed because it's not profitable or make money?

You don't get it. A wealthy nation can easily afford to give such luxury to it citizens. But we are super poor.
The UK can afford 100s of billions to make its citizens comfortable and happy even at a lose but we are a country that doest even have good roads yet we rather borrow billions and build trains at a lose.

Also I might be an ordinary nairaland guy like you claim but I am very exposed. I am not the only one that condemns high speed rail. If you do your research, you would read the views of many international professional's who don't favor high speed rails.
Finally, I am not the follow follow type. I rather study and come to personal understand before I take a decision. Unlike our leaders who must follow stupidly.

Ovamboland:


Even UK is currently wasting £100bn building a high speed rail of about 190km, oh if they had employed you as their Prime Minister instead of Boris Johnson, they would have automatically saved £100b.

You are wiser than the wisest

Don't just read the headlines, understand the reason behind the news.
Highspeed rail is very expensive yet super comfortable and fast.
The UK citizens can aford high fares. Do you have an idea how much train tickets cost?
In the US, the cheapest ticket cost $20. This is over N8000
You really expect Nigerian's to pay 8k from lag to ibadan?
You believe Nigeria can compete with Uk? You are very very funny

Most of the Income generated are being STOLEN by the Ogas and Staff.
Imagine that we have to use CASH to buy Ticket of 24,000, just to travel on the Train.
I asked: Why does the Railway not have an ONLINE BANK ACCOUNT that Commutters can pay into?

The Lady Cashier just Smiled and gave me a wink.
That Wink says it all.

E shock una abi? Nigeria will never be profitable under Buhari. Exactly how Nigeria is being run.

Ovamboland:


How much is SGR per kilometer and how much did Nigeria pay? That's a simple question for anyone who knows what he's talking about, not referencing some phantom website

Hmm, since you can't use Google and you think it's all in my head, let's leave it there.

hakeemhakeem:


not only operation cost there are some projects inclusive and purchase such as new locomotives, coaches and wagons; Insurance of locomotives and rolling stocks; rehabilitation of track from Port Harcourt to Makurdi; maintenance of roads into stators, rest houses, workshop, chalets end operational residential quarters, among others.

Story.

They never run out of what to budget for. Never! Yet they fail to turn in a profit year
-in-year out like their cousins the NNPC or the old NEPA and NITEL.

iwaeda:


https://guardian.ng/features/railway-corporation-seeks-n61-5b-for-maintenance-generates-n1-13b/

Photo: Managing Director of the corporation, Fidet Okhiria

See this Man black face in 2 years now efcc go dey chase am around for billion naira laundering

Maintenance

azpekuliar:


Story.

They never run out of what to budget for. Never! Yet they fail to turn in a profit year
-in-year out like their cousins the NNPC or the old NEPA and NITEL.

Mention any entity with that nature of investment that rake in profit in a year.moreover they aren't even operates at optimal level with time they would over brake even

hakeemhakeem:


Mention any entity with that nature of investment that rake in profit in a year.moreover they aren't even operates at optimal level with time they would over brake even

Maybe we should revisit this conversation in 5 years time?

azpekuliar:


Maybe we should revisit this conversation in 5 years time?

Cool

tctrills:

The UK tax payers can afford it not one of the poorest countries in the world.

You believe we have to copy everything advance nations do?

Let me ask you a direct question, mention the advantage of high speed rail to our economy.

The UK taxpayer will willingly throw away £100bn Nigeria total national budget for 4 years because they are rich, I'm discussing with little kids?

tctrills:

You don't get it. A wealthy nation can easily afford to give such luxury to it citizens. But we are super poor.
The UK can afford 100s of billions to make its citizens comfortable and happy even at a lose but we are a country that doest even have good roads yet we rather borrow billions and build trains at a lose.

Also I might be an ordinary nairaland guy like you claim but I am very exposed. I am not the only one that condemns high speed rail. If you do your research, you would read the views of many international professional's who don't favor high speed rails.
Finally, I am not the follow follow type. I rather study and come to personal understand before I take a decision. Unlike our leaders who must follow stupidly.

Sorry you're not exposed at all with this line of argument.

That railway is not highspeed railway, that's why it's cheap and it's main purpose is cargo, passenger service is an addendum.

Business people who have stake in the economy running to billions won't reason at your level. They know the impact the rail service will have on their business, logistics and turnaround time. You can see beyond the passenger traffic