The revenue generated by the Nigerian railway service fell significantly in the second quarter of 2022, amid a rise in its debt service to loans obtained to build the infrastructure.
In the last six years, Nigeria has earned N18.09 billion, the Nigerian Bureau of Statistics (NBS), disclosed in its Rail Transportation reports.
Ripples Nigeria had reported that during the same period, the Federal Government spent $528.6 million (N237.13 billion using the Central Bank of Nigeria’s official exchange rate of N448.55/$1) to service railway debt.
