Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,162,129 members, 7,849,541 topics. Date: Monday, 03 June 2024 at 11:49 PM |
Nairaland Forum / Nairaland / General / Politics / Railway Debt Servicing Exceeds Revenue By 1,200% – Report (8566 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 tuborme: 10:54am On Dec 28, 2023 |
The first issue is the cost of building the railway…. It was inflated…. Secondly the route is not profitable 1 Like |
Re: Railway Debt Servicing Exceeds Revenue By 1,200% – Report by tsdarkside(m): 10:56am On Dec 28, 2023 |
😂😂.... what a shocker.... railway companies all over the world dont make that much profit.... its not a new thing.... thats why mostly goverments manage them.... |
Re: Railway Debt Servicing Exceeds Revenue By 1,200% – Report by kogevaw720: 10:56am On Dec 28, 2023 |
Nbote: if only u could re-read ur comment and this time slowly, u would know that what u think u r typing is different from what u did. |
Re: Railway Debt Servicing Exceeds Revenue By 1,200% – Report by tsdarkside(m): 11:01am On Dec 28, 2023 |
you cant afford all this shinny things....the debt una will accumulate will shock una las las....😂😂 1 Like |
Re: Railway Debt Servicing Exceeds Revenue By 1,200% – Report by DaddyJapan(m): 11:01am On Dec 28, 2023 |
Nicepoker: Thanks for the correction. I actually travelled by train in September of this year and found the shambolic organisation at both departure points hard to stomach. Despite all efforts to introduce a cashless economy, tickets could only be purchased in person using cash - and against a backdrop of queue-jumping and the type of rancorous behaviour some undisciplined Nigerians are renowned for. Of course not as unexpected, we were then confined to a waiting area that was way too small to accommodate all travelling passengers. How is that a way to run an efficient railway service in 2023 eh? Now as if being cooped up with oversized bags was not bad enough, when passengers were eventually allowed on to the train platform, we all had to go through just one of the several exits that were available. A major health and safety risk I dare say - since what unfolded was akin to a mini-stampede. How is it that we still get so many things wrong even with the overall intent is a good one? You are right, corruption plays a major role here. 3 Likes |
Re: Railway Debt Servicing Exceeds Revenue By 1,200% – Report by tsdarkside(m): 11:03am On Dec 28, 2023 |
tuborme: i still think its worth it somehow.... they should just look that it doesnt get abandoned over the years.... that would be a hugh waste like ajaokuta.... |
Re: Railway Debt Servicing Exceeds Revenue By 1,200% – Report by Mohisah: 11:09am On Dec 28, 2023 |
Nbote:But on a serious note, d amount of people traveling within that zone is much. Don't forget dat people residing in core north area travel a lot. Ordinary Abj-Kaduna generated so much within 3 months bfr the blast that's to tell u dat economic boost within dat zone is a green. They'll construct a cargo train for other zones in my opinion, cos people frm East, South, West don't travel like d North. A northerner fit travel to 4 states in a month just to pay visit o. Which part of 9ja do travel just like dat |
Re: Railway Debt Servicing Exceeds Revenue By 1,200% – Report by Streetdoctor: 11:27am On Dec 28, 2023 |
chopnaira:If we say Mak Yorubas dey Waka small, una go tink say na cause. Go to iddo, yaba, ikeja and see how ur people dey climb trail to Ibadan like morrow no dey 1 Like |
Re: Railway Debt Servicing Exceeds Revenue By 1,200% – Report by crowther15(m): 11:31am On Dec 28, 2023 |
Bulldozer90: The way the railway line was constructed would not really encouraged the average to board it. If you must take enter railway in Ibadan, from UI alone, you would have to spend like N800 to the station. And UI is the closest to the station. Imagine spending 2k just to go and board train that cost N3,600 for the economy seat. When you get to your destination, you may have to spend about 2k again to get to where you're going, depending on your location. 1 Like |
Re: Railway Debt Servicing Exceeds Revenue By 1,200% – Report by casualobserver: 11:39am On Dec 28, 2023 |
Brendaniel: All governments take loans. Attached is the financing plan for the UK HS2 (high speed rail). As you can see it is through borrowing. See also section 8 where it talks about govt subsidies for railways. Brendaniel: In your private space, calculate how much you made last year, multiply that by .2 (20%). Ask your self if you paid 20% of your income in tax last year. If you didn’t then you have no mouth to talk about tax. Most Nigerians do not pay the right amount of taxes. Finally the amount previously spent on fuel subsidy in just 1 year is more than the cost of ALL the rail lines in Nigeria. You said you wanted fuel subsidy so we had to borrow to build rail. The fuel you bought with subsidy has gone up in smoke, the rail is still there. You decide. 3 Likes 1 Share
|
Re: Railway Debt Servicing Exceeds Revenue By 1,200% – Report by Brendaniel: 11:53am On Dec 28, 2023 |
casualobserver: Oga, leave all this grammar, why is Tinubu still taking loans ? 1 Like |
Re: Railway Debt Servicing Exceeds Revenue By 1,200% – Report by Chesster: 12:27pm On Dec 28, 2023 |
Nbote: There is no railway connecting Nigeria and Niger. |
Re: Railway Debt Servicing Exceeds Revenue By 1,200% – Report by Chesster: 12:30pm On Dec 28, 2023 |
tuborme:the route is profitable..the rail fee is being subsidized plus the entire rail isn't finished.. if Ibadan to Abuja section can be completed including the inland ports for cargos ..then more will be generated |
Re: Railway Debt Servicing Exceeds Revenue By 1,200% – Report by Chesster: 12:37pm On Dec 28, 2023 |
eldoradoxx: All your write up is false...first Kaduna refinery has the smallest capacity (110,000bpd) compared to port Harcourt(210,000bpd) and warri(125,000bpd). and even port Harcourt and warri refinery that are located where the oil is also died..that should tell you your point is invalid..in fact the state of Kaduna refinery is much better than the other two as only the pipelines need serious attention.. At no point was Kaduna refinery referred to as the largest in Africa .. another false statement The revenue generation from the rails has little to do with where they are built... With the way they are being built government can not finance Lagos to the east at once .. It is done in phases.. The problem is they are connecting two cities maximum at a slow place...if they complete Ibadan to Abuja.. then we have a full line from lagos to Abuja to kano.. that route will generate more than Lagos to the east.. However, the slow pace of works plus the subsidy is why revenue is low.. There was once a time port Harcourt to aba was running on farely good trains.. did it generate more? No |
Re: Railway Debt Servicing Exceeds Revenue By 1,200% – Report by IGBOSON1: 1:22pm On Dec 28, 2023 |
Nbote: It's also this same upside-down reasoning in siting of projects for political and not viability reasons that led them to site a refinery in Kaduna and is one of the reasons Nigeria is not working! 1 Like |
Re: Railway Debt Servicing Exceeds Revenue By 1,200% – Report by BreconHills(m): 2:04pm On Dec 28, 2023 |
Bulldozer90: 2010 photo of the old narrow gauge trains. The reason the train lines were not built to the east was simple. These states were slow on processing right of way to an Aboki government. Remember the track and the surround perimeters must be surrendered to the NRC. They do not continue to remain state land. If you can give your land to buharis aboki government then no NRC trains for you. Its a national asset passing through a state. Unfortunately this was all at the height of cloned buhari, supporter of APC, malu and aboki insults time. Which state governor in the SE could get approvals for right of way from his state legislature during this time. That's what politics of bitterness can do. But fear not. States can now build their own train networks 100% within their region. So SE Rail loading. Or? 1 Like |
Re: Railway Debt Servicing Exceeds Revenue By 1,200% – Report by GodHimself: 3:19pm On Dec 28, 2023 |
Stealing Stealing by employees. Stealing by the government. treesun: |
Re: Railway Debt Servicing Exceeds Revenue By 1,200% – Report by BlackyOne: 4:36pm On Dec 28, 2023 |
Lagos -Ibadan takes 2½ hours on train, and 2 hrs on road. Train only moves by 8am and 4pm. Train ride cost more than bus. Bus will get you closer to city centers where most people live. Now compare the advantage of using bus over train, and tell us if NRC is wise? 3 Likes |
Re: Railway Debt Servicing Exceeds Revenue By 1,200% – Report by UNDFTD: 7:03pm On Dec 28, 2023 |
It goes without saying, "When you are holding someone down on the ground, you are holding yourself down as well." This is for those including Rotimi Amechi and others who out of HATRED, ENVY and JEALOUSY blatantly refused to connect the EASTERN region especially the southeast to the national rail line. These folks know the economic implications and that it would be economic suicide to disenfranchise the EASTERNERS, who are the most traveled but they did it anyway out of hatred. Now the results are in... the total revenue generated from these other regions are NOT even enough to pay both the principal and interest on the loan. This is is just the beginning. These are supposedly new coaches, could you imagine a couple of years from now when they start breaking down like everything Nigeria and you do NOT have the ridership like you have now? 1 Like |
Re: Railway Debt Servicing Exceeds Revenue By 1,200% – Report by Simeonjoe1: 10:38pm On Dec 28, 2023 |
Brendaniel:Railway all around the world are heavily subsidize and don't generate any direct profit(ROI) except in rare cases, that's why you don't see private sectors building rail for business, it's usually done by the government through loans... The profit from rail is not the revenue but its adjunct effect in increasing productivity of the general economy. |
Re: Railway Debt Servicing Exceeds Revenue By 1,200% – Report by Simeonjoe1: 10:44pm On Dec 28, 2023 |
Chesster: You're wrong on the last statement. Using traffic generated date in times of volume 1 Lagos-Ibadan 2. Lagos-ore-benin-asaba-onitcha 3 onitcha-owerri-aba-ph 4. Abuja - Kaduna-kano 5. Lagos-ilorin 1 Like |
Re: Railway Debt Servicing Exceeds Revenue By 1,200% – Report by Brendaniel: 11:19pm On Dec 28, 2023 |
Simeonjoe1: And what has Nigeria's own done for the economy? 1 Like |
Re: Railway Debt Servicing Exceeds Revenue By 1,200% – Report by Uchek(m): 12:32am On Dec 29, 2023 |
But the Minister of Transport was an Easterner — Amaechi SoNature: |
Re: Railway Debt Servicing Exceeds Revenue By 1,200% – Report by Chesster: 10:15am On Dec 29, 2023 |
Simeonjoe1: Good.. Now the lagos-ibadan and abuja-kaduna-kank route are all on the same rail line which is from lagos -Kano.. Below are all the planned major rail line that are to be developed. .Lagos - Kano, Lagos-calabar(costal rail line), warri-abuja and port Harcourt - Maiduguri.. Which of these lines do you think will generate the most traffic by your statistics? (The ministry of transport has already done this and they selected Lagos - Kano) |
Fraudsters Set-Up Jonathan/Sambo Foundation, Dupe Over 100 / Why The North Is Not Responding To Charlie Hebdo Cartoons / Meet The 'most Educated' President In The World, See Number Of Degrees
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 53 |