Railway Corporation Seeks N61.5b For Maintenance, Generates N1.13b - Politics (2) - Nairaland
Nairaland Forum / Nairaland / General / Politics / Railway Corporation Seeks N61.5b For Maintenance, Generates N1.13b (19586 Views)
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| Re: Railway Corporation Seeks N61.5b For Maintenance, Generates N1.13b by Crossroad1(m): 3:52pm On Oct 08, 2021 |
They should keep generating till they hit the said amount they need.. Bunch of looters looking for another means to siphon money 2 Likes 1 Share |
| Re: Railway Corporation Seeks N61.5b For Maintenance, Generates N1.13b by Felabrity: 3:53pm On Oct 08, 2021 |
Maintenance 60billion Generate 1 billion  |
| Re: Railway Corporation Seeks N61.5b For Maintenance, Generates N1.13b by tonyson010(m): 3:53pm On Oct 08, 2021 |
otokx: They will not, maybe after a year, they will sell it to themselves and still ask government for money to keep it running. |
| Re: Railway Corporation Seeks N61.5b For Maintenance, Generates N1.13b by Minjim: 3:53pm On Oct 08, 2021 |
ivolt: What's a profitable fare considering the purchasing power of Nigerians? The problem is corruption. They use the budget of all these agencies to steal money 2 Likes |
| Re: Railway Corporation Seeks N61.5b For Maintenance, Generates N1.13b by chincent: 3:53pm On Oct 08, 2021 |
I laugh in Swahili  [center][/center] |
| Re: Railway Corporation Seeks N61.5b For Maintenance, Generates N1.13b by ChasinGood(m): 3:54pm On Oct 08, 2021 |
Nigeria,we hail thee  Just negodu |
| Re: Railway Corporation Seeks N61.5b For Maintenance, Generates N1.13b by Bizibi(m): 3:54pm On Oct 08, 2021 |
ivolt:yes we will shout government is wicked when ticket prices are hiked and minimum wages is still low couple with bad economy.... 7 Likes 1 Share |
| Re: Railway Corporation Seeks N61.5b For Maintenance, Generates N1.13b by Okwyjesus(m): 3:55pm On Oct 08, 2021 |
azpekuliar:That's always the problems |
| Re: Railway Corporation Seeks N61.5b For Maintenance, Generates N1.13b by amaham(m): 3:55pm On Oct 08, 2021 |
I saw a staff annual wage bill of 9billion and an annual revenue of 1.1bn. The railways can't even pay salaries. Not every infrastructure development is worth it abeg 3 Likes |
| Re: Railway Corporation Seeks N61.5b For Maintenance, Generates N1.13b by medexico(m): 3:58pm On Oct 08, 2021 |
Idiots! |
| Re: Railway Corporation Seeks N61.5b For Maintenance, Generates N1.13b by descartes400: 3:59pm On Oct 08, 2021 |
Samunique:in addtion to the above, Current personnel cost is N9.14 billion for 2021 while generating 1.13 billion! that's to say in 2021, they operated at a loss to the tune of 8.87 billion.And have the effrontery to demand for maintenance cost of 61.5 billion? This is so shocking as non of the management is being hounded by DSS,ICPC,EFCC etc 2 Likes |
| Re: Railway Corporation Seeks N61.5b For Maintenance, Generates N1.13b by gabicon: 4:01pm On Oct 08, 2021 |
iwaeda: These are some of the reasons we complain about borrowing for infrastructure, you generate 1billion and a chunk of your operating cost is 61 billion. We borrow to build the train, we borrow to maintain the train, that's not a good sign. We ought to get our people productive so that their activity is taxable and they have the means to move their goods and services with the infrastructure built. Empower is an ineffective program, we need to get finance to MSMEs and encourage them to export their goods outside the country. Instead of sending our NYSC candidates to go teach in schools, we ought to get them trained in some form of skill for a year and give them startup funds after their service year. 7 Likes |
| Re: Railway Corporation Seeks N61.5b For Maintenance, Generates N1.13b by cmecproblem(m): 4:02pm On Oct 08, 2021 |
So..... Is it worth it? |
| Re: Railway Corporation Seeks N61.5b For Maintenance, Generates N1.13b by SmartPolician: 4:02pm On Oct 08, 2021 |
Is this how Buhari's successor will repay Chinese loans?  2 Likes |
| Re: Railway Corporation Seeks N61.5b For Maintenance, Generates N1.13b by archymacho(m): 4:03pm On Oct 08, 2021 |
Hehehehe very laughable. Nigeria my country |
| Re: Railway Corporation Seeks N61.5b For Maintenance, Generates N1.13b by jumpandpas(m): 4:05pm On Oct 08, 2021 |
azpekuliar: Speechless |
| Re: Railway Corporation Seeks N61.5b For Maintenance, Generates N1.13b by sylvanus190: 4:06pm On Oct 08, 2021 |
Pleaseooooo what is happening to dangote refinery. it has not been in the news for some time now. and the oil FG discover in Northern nigeria?those are my question for the weekend. help a brother. 1 Like |
| Re: Railway Corporation Seeks N61.5b For Maintenance, Generates N1.13b by na2016: 4:06pm On Oct 08, 2021 |
otokx: haha, you don't really know much about rail. It is an expensive shit and even with privatization, you still need be very careful else you will run at a loss. The case in hand is the UK. 2 Likes |
| Re: Railway Corporation Seeks N61.5b For Maintenance, Generates N1.13b by Nobody: 4:07pm On Oct 08, 2021 |
Better to sell off all the trains and tracks to scavengers |
| Re: Railway Corporation Seeks N61.5b For Maintenance, Generates N1.13b by chaloskyx: 4:10pm On Oct 08, 2021 |
YOU SEE WHAT HAPPENS WHEN YOU FAIL TO DO A PROPER ECONOMIC RAIL WORK PLAN YOU WERE WASTING OUR MONEY BUILDING TRACKS TO NIGER STATE WHICH HAS NO ECONOMIC VALUE RATHER THAN CONNECTING THE SW TO THE EAST AND NORTH AT LEAST COMPANIES WHICH RELY ON TRAILERS WOULD PATRONISE YOU TO CARRY THEIR GOODS ACCROSS THE GEO POLITICAL ZONES YOU COULD ALSO HAVE CREATED DEPOS FOR OF UNLOADING CONSIGNMENT WHERE TRAILERS WOULD PICK THEM UP TO DISTRIBUTE TO COMMUNITIES FUTHER GENERATING MORE REVENUE. BUT NAA OUR POLITICIANS ARE NOT CONCERNED WITH THAT WHAT THEY WANT IS TO LAUNCH THE PROJECTS AND COLLECT THEIR OWN SHARE AS FAR AS AM CONCERNED NIGERIAS RAIL ROAD PLAN IS DEAD IN THE WATER AND IS A LIABILITY ON THE NATIONS BUDGET 3 Likes |
| Re: Railway Corporation Seeks N61.5b For Maintenance, Generates N1.13b by chizzycute411(m): 4:13pm On Oct 08, 2021 |
How on Earth will u demand x6 of what u generate for maintenance. This has shown how incompetent this govt is. With the way they re going inflation will sobe on the high side soonest. May God liberate us from APC and PDP amen. |
| Re: Railway Corporation Seeks N61.5b For Maintenance, Generates N1.13b by Skyehigher1: 4:15pm On Oct 08, 2021 |
Come to think of it you invest in business with sum trillion of naira you supposed to gain hundreds of billions but you have shortage of of billions of naira , 61 billions for staffs but you gain 1.31 billions,, shortage country |
| Re: Railway Corporation Seeks N61.5b For Maintenance, Generates N1.13b by chloride6: 4:17pm On Oct 08, 2021 |
Another rabbit hole... |
| Re: Railway Corporation Seeks N61.5b For Maintenance, Generates N1.13b by ppogba: 4:18pm On Oct 08, 2021 |
ivolt: Oga, everything is not about cheap or expensive rate. First, look at the personnel cost of the organisation in question and you will see the pothole swallowing the money. For your info, the rate is expensive already. N3000 to IBADAN FROM LAGOS when the road option is highest N1500. iS IT UNTIL THEY MAKE THE RATE N7000 before you agree that it is not cheap? Egypt is presently on over 20,000 megawatt, SA is over 40,000 and Nigeria is struggling with 4500 MEGAWATTS. Both countries I mentioned are generating more with fewer staff. The facts are out there. LET the private sector handle the railway and you will see wonders. NITEL comes to mind. 6 Likes |
| Re: Railway Corporation Seeks N61.5b For Maintenance, Generates N1.13b by mrksquare: 4:24pm On Oct 08, 2021 |
SocialJustice: The government doesn't need to privitize it. Is just to commercialize its operation. I'm aware the government is subsidizing the fare for commuters. The government can start by charging the fair value for transportation fare. As a way of ensuring that there is no leakages in financial flow of the agency, the ticketing system should be automated. 1 Like |
| Re: Railway Corporation Seeks N61.5b For Maintenance, Generates N1.13b by richmondefosa(m): 4:30pm On Oct 08, 2021 |
According to the report, NRC generated 1.13 billion Naira. They are demanding 61.5 billion Naira for maintenance. He said NRC’s current personnel strength was 10,672, with the current personnel cost of N9.14 billion for 2021. He added that due to the additional staff requirements for the operation of the new Lagos-Ibadan standard gauge line, a total of 1,000 additional staff was being considered with an additional wage bill of N567, 451,300 per annum. That is an average of N567, 451.30k per staff. Your personnel cost is even more than the amount generated. You have not even factored in other running and overhead costs yet you are trying to add more personnel cost to the already bloated figure above. I do not understand how this government runs. I mean, if i have a business and the running cost is way more than my profit/income, I will need to have a rethink. You do not run business this way na haba. The NRC should be privatised. But the annoying thing is that it wont be privatsed to competent tested and trusted companies with track record of efficiency. Rather, it will be privatised amongst themselves. rubbish  1 Like |
| Re: Railway Corporation Seeks N61.5b For Maintenance, Generates N1.13b by tctrills: 4:31pm On Oct 08, 2021 |
SocialJustice:would you want to buy a business that makes 1.13billion but costs you 61 billion to run? Not to forget the railway has outstanding loans to be paid 1 Like |
| Re: Railway Corporation Seeks N61.5b For Maintenance, Generates N1.13b by RiceProducers: 4:32pm On Oct 08, 2021 |
There are project items in the N61. 5bn, not just maintenance and salaries. Some of the N61. 5bn will yield a lot of money when spent. The NRC has assets that may be close to N1trillion that can yield income. The FG needs to sit down and allocate the money to them after the assets are sold or commercialized. 3 Likes |
| Re: Railway Corporation Seeks N61.5b For Maintenance, Generates N1.13b by SocialJustice: 4:35pm On Oct 08, 2021 |
tctrills:When it is privatised, it will run a lot more efficiently. The FG will inherit the debt. Since they know how to inflate contract cost stupidly, they will bear that burden. 1 Like |
| Re: Railway Corporation Seeks N61.5b For Maintenance, Generates N1.13b by Prince081: 4:35pm On Oct 08, 2021 |
This is the projects that we are borrowing money for. A wise leader will privatise. A Bubu government would have taken loan to fix NITEL rather than opening up the space like OBJ did. |
| Re: Railway Corporation Seeks N61.5b For Maintenance, Generates N1.13b by tctrills: 4:38pm On Oct 08, 2021 |
ivolt:First, it is not cheap. Lagos to Ibadan by rail is more expensive than on road. Secondly, why build rails if they are very unprofitable why not just build roads. Third, the rails were built with borrowed money so we need money to maintain them and money to repay the loan. who advised us to build rails in the first place. It's very easy to take a loan, but we needed real leaders to chat the path for our economy not the kind of men we have in Aso rock. 4 Likes |
| Re: Railway Corporation Seeks N61.5b For Maintenance, Generates N1.13b by Okoroawusa: 4:40pm On Oct 08, 2021 |
Misleading headline...NRC was defending its inclusion in the 2022 budget of a certain amount for procurement and salaries for incoming workers it wants to employ. This is a good development. 4 Likes |
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