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Rail transport revenue grew year-on-year (YoY) by 42 per cent to $6.7 billion in the first six months of this year (January to June) from $4.7 billion in the corresponding period of 2021.
Data from the National Bureau of Statistics, NBS, Rail Transportation data for the second quarter of this year, Q2’22, showed that the $6.7 billion revenue generated in the review period comprises $6.2 billion generated from passengers, $360,000 generated from goods and $246,000 from other income receipts. More details at: https://www.vanguardngr.com/2022/10/rail-transport-revenue-rises-42-to-n2-93trn-in-6-months
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The TinCan Island Command of the Nigeria Customs Service has said that the command makes an average of $6 million daily.
The Customs Area Controller in charge of TinCan Island Command, Adekunle Oloyode, said this in a chat with our correspondent in Lagos on Wednesday, noting that it was the command’s minimum daily target. Oloyode also said that the service was working hard towards improving the Vehicles Identification Number, VIN, to accommodate more vehicles of different models. More details at: https://punchng.com/fg-generates-n2-5bn-daily-from-tincan-port-customs All is set for the commencement of commercial operations at the multi-billion naira Kaduna Inland Dry Port (KIDP) as Nigeria’s first Domestic Export Warehouse (DEW). The KIDP is targeted at promoting the export of made-in-Nigeria goods and agricultural produce from the hinterland.
The warehouse, according to him, has 4,000 square metres to do aggregation, consolidation and complete packaging of all types of export within the KIDP facility. More details at: https://dailytrust.com/kaduna-dry-port-set-to-take-off-as-1st-domestic-export-warehouse The length of the Nigerian railway has increased by 712 kilometres in the past five years, according to a research by Afri-China Media Centre.
In a statement, Afri-China Media Centre said the China Civil Engineering Construction Corporation (CCECC) had within four years constructed four major railway projects covering a total stretch of about 703km. It said the railways projects like the Abuja Metro (37km); the Abuja-Kaduna railway (186km); the Ajaokuta-Itakpe-Warri (326km); the Lagos-Ibadan project (156km), with an extension of another 7km, has added to the country “a huge economic value… More details through: https://dailytrust.com/nigeria-records-712km-of-railway-in-5-years Allott Consulting Nigeria Ltd on Tuesday announced the commencement of an environmental and social impact assessment of the proposed 2,854 kilometres Kano to Maradi Rail track project estimated to cost $1.9bn. This was disclosed at a stakeholders’ engagement workshop held in Kano.
The Managing Director of the consulting firm, Attahiru Usman, said the routes selected are located in western Kano, linking Lagos and Niger-Nguru, which will also link the northern states to the eastern part of the country… More details through: https://punchng.com/contractors-begin-preliminary-work-on-1-9bn-kano-niger-republic-rail-line/ The Nigerian Railway Corporation generated $2.7 million (N1.08 billion) revenue from passengers in the second quarter of the year, the National Bureau of Statistics has said. The bureau disclosed this in its Rail Transportation Data Q2 2021.
According to the statistical office, the revenue generated from passengers in the second quarter of 2021 was put at N1,083,851,021 as against N892,467,526 in the first quarter of the year 2021… More details through: https://www.premiumtimesng.com/business/business-news/483837-nigeria-rail-transport-generates-n1-1-billion-in-three-months.html The Lagos State Government has introduced a technological-driven device called Traffic Management Solution (TMS) for smart control of traffic and tracking of violators. Frederic Oladeind, the state commissioner for transportation, at a news conference on Wednesday, described the TMS as a traffic law compliance initiative. According to Oladeinde, the TMS, a handheld device, allows for real-time capture of picture and video evidence of road traffic and vehicle compliance or violation as they occur…
More details through: https://businessday.ng/news/article/lagos-introduces-tech-device-for-traffic-control/ Nigeria plans to begin building a $1.2 billion railway linking the northern cities of Kano and Kaduna, Transport Minister Rotimi Amaechi said.
The route will be funded from the government budget while Chinese financing is awaited, Amaechi told reporters Friday in the capital, Abuja. So far, the government has committed $280 million to the project and will soon provide a further $100 million, Amaechi said. Construction is expected to begin this month, he said… More details through: https://www.bloomberg.com/news/articles/2021-07-02/nigeria-plans-1-2-billion-railway-linking-kano-kaduna-in-north Nigeria’s rail transportation system maintained a steady growth in revenue over the last year, recording a total of $5.6 million (N2.3 billion) between April 2020 and March 2021. Data released by the National Bureau of Statistics (NBS) revealed that the revenue was generated from passenger and cargo movement across the country.
However, the revenue from cargo is a miniscule part of the total revenue, indicating that the country is yet to fully explore the rail system for cargo movement. According to the NBS data, a total of NN2 billion was generated from passengers movement in the 12-month period, while cargo revenue stood at around N300 million. An analysis of the data showed that the Nigerian Railway Corporation generated N387 million in Q2’20. In the third quarter of the year, the revenue stood at N465 million, while the corporation generated N482 million in the fourth quarter of the year. In Q1’21, the revenue from rail transportation surged to an all-time high as the corporation recorded N927 million in the period… More details through: https://www.newtelegraphng.com/fg-rakes-in-n2-3bn-from-rail-transportation-in-one-year/ The African Development Bank (AfDB) says the $430 million highway project linking Enugu to Bamenda in Cameroon will be completed this year. The bank, in a statement issued on Monday, said that it was part of its investments in West Africa which currently stood at $16 billion.
The statement quoted the President of AfDB, Dr Akinwunmi Adesina, as disclosing this in a speech at the 59th Ordinary Session of the ECOWAS Authority of Heads of State and Government in Ghana. According to Adesina, the $430 million-highway project will transform trade opportunities between the two countries… More details through: https://www.sunnewsonline.com/430m-enugu-cameroon-highway-project-ready-this-year-afdb/ |
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