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Stats: 2,332,252 members, 5,156,186 topics. Date: Monday, 16 September 2019 at 05:23 PM

FG To Generate N16bn From E-tickets For Train Services - Politics - Nairaland

Nairaland Forum / Nairaland / General / Politics / FG To Generate N16bn From E-tickets For Train Services (8169 Views)

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FG To Generate N16bn From E-tickets For Train Services by Blue3k2: 11:28pm On Sep 06
Passengers wishing to travel by train will soon begin to access tickets online.

The Federal Government is expected to rake in at least N16 billion within ten years from the sale of electronic tickets to passengers intending to travel by rail.

Director General, Infrastructure Concession Regulatory Commission (ICRC), Engineer Chidi Izuwah, stated this at the presentation of the business scale certificate for the concession of the e-ticketing system to the Minister of Transportation, Rotimi Amaechi, at his office in Abuja on Wednesday, September 4, 2019.

According to Izuwah, the e-ticketing system, which is a Public-Private Partnership (PPP) arrangement, would bring an end to the chaos experienced at train stations due to limited seats.

"You promised a couple of months that there is a solution to the chaos witnessed at the train stations. We are here today to present the full business certificate for the ticketing solution for NRC," he said.

"What is interesting is that due to the popularity of rail service under the administration of the President, this transaction is for ten years and over those ten years ,the financial model shows that NRC and the federal government will earn over 16billion naira as revenue from the ticketing system. That will provide additional revenue for the government. So basically, we have turned a problem into an opportunity.

"This is a PPP where the Private sector will invest money to develop, deploy and operate and integrated ticketing solution so Nigerians will be able to buy their own tickets the way it is done anywhere in the world. 


"The NRC has gone through a procurement process in line with the ICRC Act, a competitive process and a preferred breeder has been identified-secured ID.

"A full business case was developed, due diligence was carried out to verify the technical financial and managerial competence of SECURE ID and her partners to execute this project.

"The next stage is in line with the ACT to present this to the Federal Executive Council , FEC for approval. After FEC's approval, then you can sign the concession agreement , the project will reach financial close then we can have execution of this project to the benefit of Nigerians," he added.

While highlighting the benefits of the e ticketing system, Izuwah further explained that the objective of the project was to increase revenue generation through the reduction of fraud and also increase passenger fare purchase options

"We also want to increase passenger convenience by introducing the fare dual hub. This will also improve service welfare to passengers and create a wider aisle of fare policies through additional added value because those tickets can also carry adverts and become a substantial part of revenue" he pointed out

While appreciating the director general, Amaechi noted that he would proceed to Federal Executive Council for immediately approval for the business scale.

He however opined that beyond the e ticketing system, a holistic approach to solving the problems associated with sales ticket would be the buying of Kore coaches and locomotives to meeting the increasing passenger traffic. 

"I agree that this is a solution to the madness of what we have in Rigasa Station down to Idu. But the most important solution is the provision of more coaches and locomotives. This will go a long way to reduce the madness because if people can buy their tickets from their offices and homes, they will not be coming to the train station to cause that chaos we are seeing there.

"I just had a meeting with the president today and we agreed that we should approach the Chinese and buy more coaches. The moment we get more coaches, then we will completely eradicate the current madness going on in the different station between Rigasa and Idu," Amaechi said.


Source: https://www.pulse.ng/news/local/fg-to-generate-n16bn-from-e-tickets-for-train-services/58evr1e.amp

3 Likes 2 Shares

Re: FG To Generate N16bn From E-tickets For Train Services by Blue3k2: 11:29pm On Sep 06
Yeah yeah get on with it. Its been a year plus of announcements. I do like the idea of government making a little money on adverts.

5 Likes

Re: FG To Generate N16bn From E-tickets For Train Services by helinues: 4:51am On Sep 07
Nice one oo..

Nigeria is getting better gradually under Bubu's tenure

We appreciate

9 Likes

Re: FG To Generate N16bn From E-tickets For Train Services by olu77(m): 4:51am On Sep 07
Nice move. I hope f-politicians will not squander the e-ticket money as usual on few pieces of jewelries, armored cars, London apartments etc while we are left to scream and fight each other online.
Re: FG To Generate N16bn From E-tickets For Train Services by Pistotita: 4:51am On Sep 07
E-ticket system is the best.
Re: FG To Generate N16bn From E-tickets For Train Services by jolyment: 4:52am On Sep 07
This is very good because it will make booking easier.
Re: FG To Generate N16bn From E-tickets For Train Services by toprealman: 4:52am On Sep 07
Why is this government commited to silly propaganda?
Are these figures captured in our national budget too?

3 Likes

Re: FG To Generate N16bn From E-tickets For Train Services by Lucid1(m): 4:53am On Sep 07
Yawns***
Re: FG To Generate N16bn From E-tickets For Train Services by Marshalemmy(m): 4:54am On Sep 07
It's ok
Re: FG To Generate N16bn From E-tickets For Train Services by chriskosherbal(m): 4:55am On Sep 07
Ok ooooo naija matter sef

Re: FG To Generate N16bn From E-tickets For Train Services by jolyment: 4:55am On Sep 07
healthshop247:
Nigeria my country �


Did you have this type of shape?
Re: FG To Generate N16bn From E-tickets For Train Services by fatymore(f): 4:59am On Sep 07
Good Move, all these money and we keep on borrowing and falling into debt?


Do you need bedsheets, duvets throw pillows/ pillows?

I am at your service.

Our beddings are pocket friendly and you will get a worth for your money.

Location: Lagos
Re: FG To Generate N16bn From E-tickets For Train Services by kosheunti: 5:01am On Sep 07
In need of uk used laptops?

Look no further..

Re: FG To Generate N16bn From E-tickets For Train Services by wavylevel: 5:04am On Sep 07
Really?
Re: FG To Generate N16bn From E-tickets For Train Services by ironheart(m): 5:20am On Sep 07
This government is not where we want to be. But at least we have moved from where we used to be. Finally Nigeria is forging ahead

1 Like

Re: FG To Generate N16bn From E-tickets For Train Services by mulante(m): 5:22am On Sep 07
This would be very good news to the Minister and others along the value chain that can dip their hands into this stream of revenue to enrich themselves, not me.

I derive no joy from this news but I rather feel saddened anytime I hear that the railway service talk about revenue because I feel that any increased revenue is earned in blood akin to klling Peter to save Paul.

I just have this conspiracy theory that the FG is in collusion with the vicious herdsmen to prevent Nigerians from travelling by road in order to boost their railway revenue.

They may not be actively conspiring to do so together but acquiescence is consent and the FG has allowed this to longer for too long.

All they are concerned about is revenue not minding that every human life lost to herdsmen is invaluable.

1 Like 1 Share

Re: FG To Generate N16bn From E-tickets For Train Services by TOPCRUISE(m): 5:27am On Sep 07
That will only work if they leave our roads defenceless. No wonder that ever since they have started rail construction and upgrade, kidnapping, robbery and bigantry have increased to alarming proportions in major expressways.

1 Like

Re: FG To Generate N16bn From E-tickets For Train Services by wethebest(m): 6:10am On Sep 07
Hw many states hv functioning trains?
Re: FG To Generate N16bn From E-tickets For Train Services by valuedammy(m): 6:22am On Sep 07
That amount is too small to be generated from a rail system over a period of ten years.
If the ticketing process is well monitored and managed more money would be generated.

2 Likes

Re: FG To Generate N16bn From E-tickets For Train Services by DrNueLpureHoney(m): 6:22am On Sep 07
Issoryt
Re: FG To Generate N16bn From E-tickets For Train Services by eTECTIV: 6:36am On Sep 07
Take it or leave it, Dis same ppl in govt are d ones sponsoring d kidnappings on d Abuja Kaduna express
Re: FG To Generate N16bn From E-tickets For Train Services by holuphisayor(m): 7:12am On Sep 07
haha, so this isn't subjected to any form of inflation over the said period? Mtcheew.
Re: FG To Generate N16bn From E-tickets For Train Services by okeniti: 7:20am On Sep 07
Welcomed development. Follow the TFL method of reinvesting into the service and Nigerians will thank you later and forever.
Re: FG To Generate N16bn From E-tickets For Train Services by Venerable612(m): 7:34am On Sep 07
Development got to Nigeria late.

Where are the trains? Or you mean the old locomotive trains that people stand and sit on from Iyana ipaja to Sango?

We are still using the same rail network put together by the British during the colonial era.

The Nigerian government is just trying to put in place what should have been done 60 years ago. Instead, the whole wealth was squandered on Elephant project and “reprojects” by sham companies like P&ID.

You will almost weep for Nigeria, if you think about the past and the future.
Re: FG To Generate N16bn From E-tickets For Train Services by naijajobx: 9:27am On Sep 07
Oh
Re: FG To Generate N16bn From E-tickets For Train Services by COMPAQ(m): 10:34am On Sep 07
Why not create a holding company to manage the tracks and let private companies bring locomotives to operate services. Similar to an airport. Government has been proven to be incapable of running businesses, yet we insist on doing so. Check the list of failed Nigerian companies:

Nigerian Airways
National Salt company
Nigerian refineries
Nigerian Coal company
Ajaokuta
Government banks
Government hotels
Eleme petrochemical

Why then do we think we can manage this railway? In 5 years it will have fallen apart and all we will have will be debts to pay.

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