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Nairaland Forum / Nairaland / General / Politics / Railway Debt Servicing Exceeds Revenue By 1,200% – Report (8567 Views)
OPINION On Railway Debt Servicing Exceeds Revenue By 1,200% / Fg’s Three-month Expenditure Exceeds Revenue By N1.43tn – CBN Report / Railway Debt Servicing Gulped $63m In Q1, Says DMO (2) (3) (4)
Re: Railway Debt Servicing Exceeds Revenue By 1,200% – Report by chopnaira: 9:17am On Dec 28, 2023 |
Wawu |
Re: Railway Debt Servicing Exceeds Revenue By 1,200% – Report by U09ce: 9:17am On Dec 28, 2023 |
This is nothing but capitalist thinking. It's the same argument one president will use in the future to push up prices citing "cost-reflective" bla bla". It is not everything that's monetary. Also, some benefits are not directly monetary. The railways have opened up new places, improved trade and provided employment. It is evident in major communities surrounding train stations e.g Kubwa, Rigasa, Moniya etc 1 Like |
Re: Railway Debt Servicing Exceeds Revenue By 1,200% – Report by chopnaira: 9:18am On Dec 28, 2023 |
Bulldozer90:Your attached picture is from Congo. That's why the mods do t take you serious. Even in 1993, Nigerians weren't hanging on trains like this, let alone in 2023. Do better. 4 Likes |
Re: Railway Debt Servicing Exceeds Revenue By 1,200% – Report by eldoradoxx: 9:19am On Dec 28, 2023 |
Nbote:You know the issue. If they had connected Lagos/South West with East and South South, the traffic in that route would have paid off the debt. It is similar reason why they built the largest refinery in Africa in Kaduna while the oil to be refined is in far away Niger Delta , we know the result. 1 Like |
Re: Railway Debt Servicing Exceeds Revenue By 1,200% – Report by PureFace1(m): 9:20am On Dec 28, 2023 |
Bulldozer90: So you can only post a 2016 picture to corroborate your propaganda? |
Re: Railway Debt Servicing Exceeds Revenue By 1,200% – Report by lexy2014: 9:20am On Dec 28, 2023 |
Bulldozer90:that is not Lagos Ibadan train. it is an old picture of Oshodi train. it was very common seeing this along the Agege/Oshodi route of the old train 3 Likes |
Re: Railway Debt Servicing Exceeds Revenue By 1,200% – Report by chopnaira: 9:21am On Dec 28, 2023 |
RepoMan007: lexy2014: PureFace1: It's a Congolese train if you reverse search the image. 2 Likes |
Re: Railway Debt Servicing Exceeds Revenue By 1,200% – Report by lexy2014: 9:22am On Dec 28, 2023 |
chopnaira:thank you for clarifying |
Re: Railway Debt Servicing Exceeds Revenue By 1,200% – Report by pharmagba: 9:22am On Dec 28, 2023 |
treesun: I for one know it will be like this The initial railway should have been Lagos to Abuja, Lagos to Onitsha, Portharcourt to Abuja or Kano to Abuja. Kaduna to Abuja is no business plan and no economic benefits 2 Likes |
Re: Railway Debt Servicing Exceeds Revenue By 1,200% – Report by Mosba: 9:22am On Dec 28, 2023 |
This is definition of pouring water inside basket 1 Like |
Re: Railway Debt Servicing Exceeds Revenue By 1,200% – Report by BABAawoo47: 9:22am On Dec 28, 2023 |
JASONjnr:people prefer road from lagos to ibadan, cause it's shorter and more convenient. |
Re: Railway Debt Servicing Exceeds Revenue By 1,200% – Report by PureFace1(m): 9:23am On Dec 28, 2023 |
chopnaira: he just wanted to rubbished the train so bad lol |
Re: Railway Debt Servicing Exceeds Revenue By 1,200% – Report by MrNipplesLover(m): 9:25am On Dec 28, 2023 |
When Nigerian government plans to borrow money, what the have in mind is the % to be looted, this is why Nigeria swims in debt... They have looted their own share, Nigerians we suffer the rest... Politics has no benefit, it will either bring corruption or crime, both in most cases... Na Ogun go kill all Nigerian politicians... Akeredolu was the opener, more deaths coming to u bastards... |
Re: Railway Debt Servicing Exceeds Revenue By 1,200% – Report by PureFace1(m): 9:27am On Dec 28, 2023 |
SoNature: How much are the airports built in your region generating ? with all the chest beating there's no viable airport in your region. How much is the toll gate put on Niger bridge generating ? it is all noise This train have some issues because of Insecurity and massive corruption and miss management, the revenue generated in 2022 was even higher than this year. 1 Like |
Re: Railway Debt Servicing Exceeds Revenue By 1,200% – Report by Max24: 9:28am On Dec 28, 2023 |
BNXNK:Don't mind the guy. So people will hang by the door like that from Lagos to Ibadan? However, that picture might be an intrastate train ride in Lagos, eg from Oshodi to Agbado along. |
Re: Railway Debt Servicing Exceeds Revenue By 1,200% – Report by Rechargeam247(f): 9:30am On Dec 28, 2023 |
Nigeria happened as usual. |
Re: Railway Debt Servicing Exceeds Revenue By 1,200% – Report by SoNature(m): 9:32am On Dec 28, 2023 |
PureFace1: Oga, stop defending stupidity. That's exactly what kept this country a shithole. I didn't write the report that said the eastern railway route was the most lucrative. We are talking about railways here, not airports. Sensible leaders think like businessmen; they invest in areas where they will generate income for the country. In Nigeria, people in government come with ethnic agenda, making the country a big joke. PS: this is the last reply you will get from me on this issue. 5 Likes 1 Share |
Re: Railway Debt Servicing Exceeds Revenue By 1,200% – Report by Jayhome24: 9:36am On Dec 28, 2023 |
What is the meaning of all these kind of annoying statistic Nigerian love to use. Only in my country you will read news like 210%, 400%, 800% and its 1,200% now pls where is all these annoying strange percentages coming from? I noticed when they want to lie its then they bring up all these mathematically abnormal percentages to confused the public. Pls this has be happening since IBB era so don't think I'm referring to Tinubu administration alone. What nonsense!!! |
Re: Railway Debt Servicing Exceeds Revenue By 1,200% – Report by justmondris: 9:44am On Dec 28, 2023 |
Bulldozer90: The picture of people on top of the train is an old picture. It has not happened again since they upgraded the service. |
Re: Railway Debt Servicing Exceeds Revenue By 1,200% – Report by thedio(m): 9:47am On Dec 28, 2023 |
Bulldozer90:The mod supposed to block u for sharing fake info. That is not the colour and design of Lagos Ibadan train |
Re: Railway Debt Servicing Exceeds Revenue By 1,200% – Report by mu2sa2: 9:55am On Dec 28, 2023 |
U09ce:Good thinking. The ipob miscreants that are talking bla bla about eastern corridor are simply being mischievous. Btw, is it not only during xmas and new year period that you see more traffic on that axis? Even that traffic has plummeted due to self- inflicted terrorism in parts of igboland. Lagos- Ibadan is just the first phase of lagos - kano corridor that'll pass through oshogbo, ilorin, minna and kaduna. Only a congenital mumu would say that this project is a waste. |
Re: Railway Debt Servicing Exceeds Revenue By 1,200% – Report by obi58: 9:56am On Dec 28, 2023 |
I'm sure that with recent digitisation of payments, revenue generated will increase significantly as all the loopholes for stealing by railway workers has now been blocked. That said, this story is quite misleading. Such infrastructure are supposed to be long term investments so the debt repayments are meant to be structured to make them relatively easy to pay from the revenues generated from tickets. 1 Like |
Re: Railway Debt Servicing Exceeds Revenue By 1,200% – Report by LikeAking: 10:01am On Dec 28, 2023 |
happney65: U are very wise. 1 Like |
Re: Railway Debt Servicing Exceeds Revenue By 1,200% – Report by tollyboy5(m): 10:02am On Dec 28, 2023 |
iwaeda:Abuja to lagos would have been better but they chose kaduna to abuja 1 Like |
Re: Railway Debt Servicing Exceeds Revenue By 1,200% – Report by mu2sa2: 10:04am On Dec 28, 2023 |
justmondris:Even a partially sighted will see it clearly, but ipob miscreants' brain isn't functioning well so they think normal people can be easily fooled. |
Re: Railway Debt Servicing Exceeds Revenue By 1,200% – Report by mu2sa2: 10:10am On Dec 28, 2023 |
tollyboy5:Abuja-Lagos high speed was proposed by a Canadian company but Obasanjo rejected the terms. Abuja- Kaduna - kano is a good investment and will connect the lagos - Ibadan - minna- kaduna - kano. God bless our dear native land of Nigeria and decimate her detractors. |
Re: Railway Debt Servicing Exceeds Revenue By 1,200% – Report by Nicepoker(m): 10:11am On Dec 28, 2023 |
DaddyJapan:Three times daily trip. The problem is corruption. 1 Like |
Re: Railway Debt Servicing Exceeds Revenue By 1,200% – Report by omohayek: 10:12am On Dec 28, 2023 |
SoNature:Where's the report in which the bolded above is stated? Are we simply supposed to take your word for it, given that you've already been caught in a lie through your use of a Congolese picture to paint the SW in a negative light? Here the joke is on you, as you are so clearly incapable of taking your own advice, being as blinded by ethnocentrism as you are. There is no universe in which it makes more financial sense to spend on railways in the backwater that is the SE, while neglecting the SW which contains 2/3 of the entirety of Nigeria's non-oil economy. Only an economically illiterate tribalist would suggest otherwise, or be ignorant of the fact that the very first part of the railway system built by the British on Nigeria's founding was the very same Lagos-Ibadan route you're trying to badmouth. Clearly they understood economic realities which escape your bigoted little mind. 4 Likes |
Re: Railway Debt Servicing Exceeds Revenue By 1,200% – Report by Naijanascam: 10:19am On Dec 28, 2023 |
After extending into Marada in Niger republic where the economic value is zero and non profits and you are expecting to make profits..... .... 1 Like |
Re: Railway Debt Servicing Exceeds Revenue By 1,200% – Report by ElonEmpire: 10:23am On Dec 28, 2023 |
I always knew say it won't last more than 2years |
Re: Railway Debt Servicing Exceeds Revenue By 1,200% – Report by Difrent: 10:51am On Dec 28, 2023 |
Nbote: Are there no lines connecting the north and south? |
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