The Federal Government generates at least N300 million from Abuja-Kaduna train service every month.
The Minister of Transportation, Rotimi Amaechi, made this known while speaking as a guest on Channels Television’s Hard Copy.
According to the minister, the operation of the Lagos-Ibadan train service is financed by money generated from Abuja-Kaduna rail line.
He 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.”
The minister noted that the country is capable of meeting its loan requirements.
This is coming after the Debt Management Office clarified that loans from China to Nigeria, which presently stood at $3.59bn, constitutes only 9.4 per cent of the country’s total foreign debt stock of $37.9bn.