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Abuja-Kaduna rail corridor generates N300m monthly, Amaechi claims

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Minister of Transportation, Rotimi Amaechi, claims the Abuja-Kaduna train corridor service generates a minimum of N300 million every month.

Amaechi, who made this claim while appearing as a guest on a Channels Television programme, Hard Copy, on Sunday, said his ministry was beginning to contribute to the nation’s economic growth with the huge amounts it was generating in the rail sector.

When asked how much the country was making following the huge investment in the rail lines in the past six years, said:

“We make about N300 million per month from the Abuja-Kaduna train alone.

“Currently, we are running the Lagos-Ibadan line from the money we are making from the Abuja-Kaduna rail service.

“At the end of the day, we pay back over N100 million to the federal government,” he added.

Amaechi disclosed that the government was planning to put about 16 trains on the Lagos-Ibadan rail line, stressing that this will increase revenue generation from that axis.

READ ALSO: Transport Minister, Amaechi, explains why Nigerian roads keep collapsing

Speaking on the cost implications for developments experienced on the rail system, the Minister said the country was capable of meeting its loan requirements.

“With the amount of money we are generating from the rail lines, I can confidently say we should be able to pay back the $2.5 billion borrowed for the construction of the railway linking Lagos to Ibadan.

“Nigeria now has the capacity to pay back the loans; in fact, we have commenced repayments,” the former Rivers State Governor boasted.

He also disclosed that more developments are coming to the rail sector which will further boost the revenue generated by the ministry so as to aid the government in settling its debts.

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