Abuja-Kaduna train service generates N300m monthly, Amaechi says.
Every month, the Abuja-Kaduna railway service generates at least N300 million for the federal government.
Rotimi Amaechi, the Minister of Transportation, stated this when speaking as a guest on Channels Television’s Hard Copy.
According to the minister, money generated by the Abuja-Kaduna rail line is used to fund the Lagos-Ibadan train service.
The minister said, “We make N300million per month from the Abuja-Kaduna train,” the minister declared.
“Currently, we are running Lagos-Ibadan from the money we are making from Abuja-Kaduna rail service, at the end of the day, we pay back over N100million to the Federal Government.”
According to the minister, the country is capable of meeting its loan repayments.
This comes after the Debt Management Office explained that China’s loans to Nigeria, currently valued at $3.59 billion, constitute only 9.4% of the country’s total foreign debt stock of $37.9 billion dollars.