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After 9 Months, NRC Meets 32% of 2020 Revenue Target

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Nigerian Railway Corporation

By Adedapo Adesanya

The Nigerian Railway Corporation (NRC) generated N1.4 billion in revenue in nine months, a fraction (32 per cent) of the N4.4 billion revenue target for 2020.

The corporation noted that this was caused by the coronavirus pandemic which affected its operations as train services were stopped during its peak, thus affecting the IGR projection for the year.

The Managing Director of NRC, Mr Fidelis Okhiria, at the 2021 Budget Defence to the Joint Committee of Land and Marine transport at the National Assembly in Abuja on Friday, added that a sum of N245 million was remitted to the Treasury Single Account (TSA) as at October 31.

He said, “The Joint Committee should also note that for the year 2020, the corporation presented a separate Internally Generated Revenue & Expenditure Budget. The sum of N1.4 billion has been generated as at September 30 against the projection of N4.4 billion from our core activities, representing 32 per cent performance.

“It is necessary to mention that our train services were stopped and significantly reduced upon resumption due to the impact of COVID-19 pandemic.

“The construction work within the Lagos corridor including access to Apapa Port also impacted on our ability to provide train services.

“It is important to mention that during the period under review, the Corporation started making payments from its IGR into the Federal Government dedicated TSA as directed by the Federal Executive Council. A total sum of about N245.5million has so far been lodged into the account as at October 31.

“The Railway Property Management Company Limited is a wholly-owned subsidiary company of Nigerian Railway Corporation. As at October 31, the company has generated about N1.4 billion representing 91.5 per cent of N1.5 billion which was the revised approved revenue target for 2020.”

He said that the corporation projected N5.3 billion as Internally Generated Revenue for 2021 from its investments.

“For the year 2021, the corporation plans to generate a total of N5.3billion as IGR. More coaches are expected to be deployed to Abuja-Kaduna Train Service, the full commercial operation has commenced between Warri-Itakpe and the Lagos-Ibadan Train Service is expected to commence soon,” Mr Okhiria said.

According to him, the corporation’s operational expenditure remains very high because most of the stations along Abuja-Kaduna Railway line are substantially powered by diesel generators.

He said efforts were, however, being made to ensure that alternative sources through Independent Power Plant (IPP) was explored to service all routes beginning with the Standard gauge lines.

The NRC boss noted that the initial revenue target of N2 billion was reviewed downwards due to the impact of the COVID-19 pandemic.

“In 2021, the company has proposed to generate N2 billion, the total proposed Capital Budget of the Nigerian Railway Corporation is N23.8 billion distributed into 17 budget lines.

“In the year 2021 Budget (Capital and Recurrent) of the Nigerian Railway Corporation for the year 2020 budget, the sum of about N18 billion was appropriated for Capital Budget.

“This amount was subsequently revised downwards to N16 billion due to the economic downturn as a result of the COVID-19 pandemic which led to shutting down of economic activities as well as the dwindling revenue from crude oil.

“As at today, about N15 billion representing 94 per cent of 2020 Capital Appropriation has been released and the procurement process is on-going.

“The sum of N7.1 billion was appropriated for the year 2020 as total Personnel cost for the Corporation and as at September 2020 a total of about N6.47 billion has been paid, leaving a balance of about N627 million,” Mr Okhiria added.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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Lagride Gets $100m UBA Loan for EV Charging Infrastructure, Others

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Lagride $100m UBA loan

By Modupe Gbadeyanka

The United Bank for Africa (UBA) Plc has provided a financing facility worth about $100 million to assist Lagride expand its electric vehicle charging infrastructure in Lagos State.

The loan would also be used by the company to scale its Drive-to-Own programme and enable 3,500 Lagos drivers to transition from daily earners into long-term asset owners, business operators and mobility investors.

The partnership strengthens Lagos State’s transportation ecosystem and accelerates the shift toward a structured, technology-enabled and financially bankable mobility sector.

Over the past 10 months, Lagride has rebuilt its entire onboarding and operational system for drivers, known as Lagride Captains.

The platform introduced a performance-led Drive-to-Earn structure supported by weekly and monthly rental models. This system has generated consistent 90-day usage and repayment data across the fleet, allowing UBA and other financial institutions to assess driver performance with accuracy, confidence and transparency.

Eligibility for the programme is based on clearly defined performance thresholds, repayment discipline, safety compliance and service consistency.

Through this approach, Lagride has emerged as the most structured, data-driven and credit-ready mobility platform in Nigeria, setting a new benchmark for bankable driver financing and asset ownership.

EV Infrastructure Expansion

As part of the milestone, Lagride also unveiled an expanded electric vehicle charging facility in Alausa, Lagos, reinforcing its long-term commitment to clean, future-ready mobility.

The expanded infrastructure is designed to support the growing electric vehicle segment within Lagride’s fleet, reduce operational downtime and enable more efficient, sustainable transportation at scale. By pairing driver financing with practical EV infrastructure, Lagride is positioning itself as a mobility platform built not just for today’s Lagos, but for the next generation of urban transport.

“Lagride was created to give Lagos a modern, disciplined and technology-driven mobility system while ensuring that drivers are not left behind.

“The goal is for drivers who we call Captains to become business owners, fleet partners and mobility investors, not just drivers.

“This $100 million partnership with UBA moves thousands of captains closer to owning productive assets, managing multiple cars and building stronger financial futures. It is a major step forward in our commitment to driver prosperity and the future of smart mobility in Lagos,” the chairman of Lagride, Ms Diana Chen, said.

On his part, the chief executive of UBA, Mr Oliver Alawuba, said Lagride represents the kind of transformational, well-governed and data-backed initiative that UBA exists to support across Africa.

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Police to Resume Tinted Glass Permit Enforcement January 2

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tinted glass permit

By Aduragbemi Omiyale

The Nigeria Police Force has said it would begin the enforcement of the controversial tinted glass permit despite an ongoing case in the court.

In a statement on Monday night signed by its spokesman, Mr Benjhami Hundeyin, the police said the reason for the resumption of the enforcement was due to insecurity in the country.

The enforcement, the statement noted, will resume on Friday, January 2, 2026, and motorists who require the tinted glass permit have been encouraged to apply through the approved channels and ensure that their vehicles comply with legal procedures.

The police noted that there was not a time the court prevented it from going ahead with the implementation of the tinted glass permit, noting that this was for the “safety of all citizens.”

“It is important to clarify that at no point did the court restrain the Nigeria Police Force from enforcing the provisions of the law regarding the use of tinted glass on vehicles.

“Nonetheless, in the spirit of responsibility, transparency, and public convenience, the Force suspended enforcement to allow motorists ample opportunity to regularise their documentation and complete the registration process without pressure,” parts of the statement today stated.

“Recent trends, however, reveal a disturbing rise in criminal activities perpetrated with the aid of vehicles fitted with unauthorised tinted glass. Some individuals and organised criminal groups have exploited this gap to conceal their identities and facilitate crimes ranging from armed robbery to kidnapping and other violent crimes.

“In view of this, the Nigeria Police Force has found it both necessary and urgent to resume full enforcement as a proactive measure to safeguard our communities.

“Consequently, enforcement of tinted glass permit will resume on January 2, 2026,” it declared.

“The Inspector-General of Police (IGP) Kayode Adeolu Egbetokun, assures the public that the renewed enforcement will be carried out with utmost professionalism, respect for the rights of citizens, and in accordance with extant laws.

“He adds that the Force remains committed to promoting public safety and upholding the rule of law while working collaboratively with all stakeholders to keep Nigeria secure,” the statement added.

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Beer Sectoral Group, FRSC Promote Safer Roads With 2025 DDD Campaign

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safer roads 2025 DDD Campaign

By Aduragbemi Omiyale

The 6th edition of the annual Don’t Drink & Drive (DDD) campaign of the Beer Sectoral Group (BSG) of the Manufacturers Association of Nigeria (MAN), organised in partnership with the Federal Road Safety Corps (FRSC), has officially flagged off.

The safer roads initiative commenced in Lagos with a press interaction and stakeholder briefing attended by FRSC officials, the BSG executive team, transport unions, and media organisations.

The DDD campaign reinforces BSG’s ongoing commitment to promoting responsible drinking and safer roads across Nigeria.

Chairman of the group, Mr Carlos Coutino, stressed the industry’s unwavering commitment to road safety and responsible drinking.

“The beer industry remains steadfast in its commitment to responsible drinking advocacy. The Don’t Drink & Drive campaign has been one of the Beer Sectoral Group’s flagship corporate social responsibility programmes since inception, aimed at saving lives and fostering safer transportation habits,” Mr Coutino stated.

In his welcome address, the Corps Commander, Mr Kehinde G. Hamzat, emphasised the heightened dangers on the roads during the festive season and the need for stronger public awareness:

“The risk of road crashes increases significantly during the festive season, which is why we must intensify public sensitization efforts. Collective awareness and responsible choices are critical to saving lives on our roads,” he said.

He lauded the BSG member companies for their consistent support of the FRSC in this initiative over the years, noting that their commitment has made a real impact in reducing avoidable accidents.

“I wish to express my profound appreciation to our esteemed stakeholders, Beer Sectoral Group for partnering with the Federal Road Safety Commission in the campaign for continued corporate social responsibility efforts towards ensuring safety on our roads,” he said.

In her closing remarks, the Executive Secretary of BSG, Mrs Abiola Laseinde, thanked the FRSC and transport stakeholders for their continued collaboration, underscoring the vital role of collective action in reducing avoidable accidents caused by drunk driving.

After the event, the team proceeded to major motor parks in Lagos, Berger and Ojota — for the park rallies.

At each location, commercial drivers and road users received safety sensitization, breathalyzer demonstrations, and branded educational materials. The rally also featured direct engagements with transport unions and drivers to reinforce the message of safety and responsible alcohol consumption.

The BSG comprises notable brewers like International Breweries Plc, Nigerian Breweries Plc, and Guinness Nigeria Plc.

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