According to ANAEDOONLINE.NG, the Lagos-Ibadan train services produced over N5 billion in income for the Federal Government through the Nigerian Railway Corporation in 2022.
According to the ANAEDOONLINE.NG research, the carriages of the train that runs along the Lagos–Ibadan rail route can hold around 900–1000 people each time.
Findings show that the Lagos-Ibadan railway conducted six trips every day between January 1 and August 10, 2022, bringing in a total of N18,000,000 per day.
Subsequent investigation showed that the NRC recorded a total of N3.978 billion on the Lagos-Ibadan train services for 221 days.
In August 2022, the NRC reduced the trips on the route by 67 per cent due to the hike in the price of diesel.
The diesel price had risen by over 300 per cent in a few months, forcing transporters of petrol who power their trucks with diesel to threaten strike before the intervention of the Federal Government.
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Also, in August 2022, the NRC reduced the number of trips on the Lagos-Ibadan train route from six trips to two trips per day due to the hike in the price of the automotive gas oil, popularly known as diesel.
On December 8, 2022, the Managing Director of NRC, Fidet Okhiria, announced an increase in the train fare on the Lagos-Ibadan route.
This development came four days after the resumption of the Abuja-Kaduna train services.
After the increment, an average economy ticket sold for N3600, business class N6,500 while the VIP ticket sold for N9,000.
A breakdown of the daily ticket by our correspondent showed that NRC recorded a minimum of N3.6m per trip for a train conveying 1,000 passengers at a ticket price of N3,600 on the Lagos-Ibadan route.
Further breakdown showed that the sum of about N7.2m was recorded for two trips daily on the Lagos-Ibadan train.
The NRC raked in the sum of N1.029bn in 143 days.
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