Rotimi Amaechi, Minister of Transport, says the Abuja-Kaduna rail service generates at least 300 million naira each month.
Speaking as a guest on Channels Television’s “Hard Copy” on Saturday, Amaechi said his ministry was starting to contribute to the country’s economic growth.
According to the minister, the federal government is also considering adding 16 more trains to the Lagos-Ibadan railway line, adding that this will increase revenue generation from this axis.
âWe earn 300 million naira per month on the Abuja-Kaduna train,â he said.
âCurrently, we are managing Lagos-Ibadan with the money we earn from the Abuja-Kaduna rail service. “
The minister also said that the country is able to meet its loan requirements regarding the funds used to develop the rail service.
Speaking on the debt accumulated during the development of the rail transport system, the Minister expressed confidence that Nigeria has the capacity to repay and that the nation has started to repay.
âNigeria has the capacity to pay off its loan. Of the $ 500 million President Goodluck Jonathan borrowed for the Abuja-Kaduna rail project, in the end, we repaid over 100 million Naira to the federal government, âhe said.
He also said that more developments are coming in the rail sector, which will further increase the revenue generated by the department and support the federal government in settling its debts.