The managing director of Nigerian Railway Corporation, NRC, Engr Fidet Okhiria, has said that the corporation’s Internally Generated Revenue (IGR) stood at N1.4 billion as at September 30 this year while N245 million was remitted to the Treasury Single Account (TSA) as at October 31, 2020.
Okhiria said this at the 2021 budget defence before the Joint Committee of land and marine transport held at the National Assembly in Abuja, recently.
According to him, the COV- ID-19 pandemic affected its operations because train services were suspended and it affected its IGR projection for the year 2020.
He stated further that, for the year 2020, the corporation presented a separate IGR and expenditure budget, adding that, N1.4 billion was generated as at September 30, 2020 from its core activities.
“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 (FEC).
A total sum of N245 million has so far been lodged into the account as at October 31, 2020,” he said.
For the year 2021, he stressed, the corporation plans to generate a total of N5.3 billion as IGR as more coaches are expected to be deployed to Abuja-Kaduna Train Service, even as full commercial operation has commenced between Warri-Itakpe and the Lagos-Ibadan Train Service is expected to commence soon.
