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Lagos-ibadan Railway Route To Generate N1.1bn Annually - Politics - Nairaland

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Lagos-ibadan Railway Route To Generate N1.1bn Annually by cocolacec(m): 4:46pm On Jun 23, 2021
The Federal Government will be raking in about N1.1bn yearly from the operations of the newly launched Lagos-Ibadan standard gauge railways.

This is based on the analysis of data obtained from the Nigeria Railway Cooperation by our correspondent on Tuesday.

At the moment, the Nigerian Railway Corporation operates two trains on the route, and each of them makes one return trip. This makes it four trips daily.

One of the trains is a diesel multiple units. It has two motor cars and eight coaches.

The breakdown of the coaches is one first-class coach, two business class coaches and five standard class coaches.

The train takes off from Ibadan to Lagos and returns to Ibadan the same day.

The second train is made up of three business classes and five standard classes. It takes off from Lagos to Ibadan and returns to Lagos the same day.

For the first train with eight coaches and a return trip to Ibadan, it is expected to make a total of N3,524,000 daily.

Findings show that a passenger on the first-class section which has just one coach and 24 pays N6,000 per seat. Multiplied by the number of seats and the return trip, the first class coach is expected to fetch corporation a total of N288,000 daily.

The business class has two compartments of 56 seats and 68 seats. The price for each seat is N5,000 and N3,500 respectively.

If each of the compartments is filled up per trip, it will fetch total of N560,000 and N467,000 for a return trip respectively. This sums to a total of N1,036,000 daily.

The standard class has five coaches, each carrying 88 passengers.

At the rates of N2,500, it will be generating the sum of N2.2m daily.

Following the same structure, the second train with its three business classes and five standard classes is expected to generate N3,712,000 daily on its return trips.

The NRC customer care correspondent confirmed that it works six days weekly, adding the corporation was considering Sunday services beginning from this week.

Given the current six-day reality, it is expected that the Federal Government will be generating about N1,103,200,000 yearly from the operations of the two trains available on the newly inaugurated routes.

The Lagos-Ibadan train only has one stop at Abeokuta. Our correspondent gathered that other stops such as Agege, Ijoko, Kajola, Omi-Adio would be opening shortly.


https://punchng.com/lagos-ibadan-railway-route-to-generate-n1-1bn-annually/?fbclid=IwAR3UGs1ZsS6W6eLKXXutEbYTtojXWhjhv595ExD4WT2il4QbY4ehFPJ7rjw

Mynd44
Re: Lagos-ibadan Railway Route To Generate N1.1bn Annually by traihit: 4:50pm On Jun 23, 2021
1.1 billion in some people's pocket right?


Nigeria is a country where people dump refuse on waterways thinking it will "go away". They don't ask where it's going to. The same is applicable in our financial system as a nation.

Some people think that wealth cannot be depleted. So "take your own and I take my own" and this is where we are.
Re: Lagos-ibadan Railway Route To Generate N1.1bn Annually by Yenefer(f): 4:50pm On Jun 23, 2021
That's good.. Lagosian becareful of IPOB terrorists posing as Endsars protesters. Y'all are lucky they almost destroyed Lagos during Endsars movement. Avoid them Children of perdition, they're cursed. God bless Yoruba Nation

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Re: Lagos-ibadan Railway Route To Generate N1.1bn Annually by Anubis: 5:01pm On Jun 23, 2021
If you add the cost of Diesel, maintenance and interest payment on the multi billion dollar loan, you will find that N1.1bn is no way near enough
Re: Lagos-ibadan Railway Route To Generate N1.1bn Annually by olaNL: 5:31pm On Jun 23, 2021
The train might not carry full capacity per trip. And the cost of maintenance, fuel, and staff compensation is suppose to be subtracted from the revenue to get the actual amount the train is making.
Re: Lagos-ibadan Railway Route To Generate N1.1bn Annually by IGBOSON1: 5:48pm On Jun 23, 2021
So how do they intend paying back all these loans if they’re sunk into a project that can’t pay for itself!? And if this route is returning this kind of poor profit, what hope is there for the one linking Daura to Maradi in Niger!?

Political considerations in choice and location of projects is part of what’s killing this country! You know there’s actually a steel rolling mill Buhari caused in the 70s to be located in present Katsina! I’m guessing it’s all but dead now!

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