Railway-related debt service costs the Federal Government $62.66 million in the first quarter of this year.
Data obtained from the Debt Management Office (DMO) by Ripples Nigeria on Saturday revealed that the amount was used to service debt on the Nigeria Railway Modernisation Project (Idu-Kaduna Section), Nigeria Railway Modernisation Project (Lagos-Ibadan Section) and the Nigeria Abuja Light Rail Project.
A breakdown of the figure showed that the Nigeria Railway Modernisation Project (Idu-Kaduna Section) gulped $23.1 million.
