NRC generates N4.1bn in 2017, says Managing Director
Okhiria made this known during the 2018 Budget Defence and the organisation performance in 2017 before the House Committee on Land Transport in Abuja.
Recommended articles
![NDLEA destroys over 300 tons of illicit drugs in Lagos and Ogun [Mehr News Agency]](data:image/svg+xml;charset=utf8,%3Csvg%20xmlns%3D'http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg'%20width%3D'100'%20height%3D'100'%20data-ring-placeholder%3D'1'%3E%3C%2Fsvg%3E "NDLEA destroys over 300 tons of illicit drugs in Lagos and Ogun [Mehr News Agency]")
Okhiria made this known during the 2018 Budget Defence and the organisation performance in 2017 before the House Committee on Land Transport in Abuja.
According to him, out of 2017 capital budget released, 32 per cent was expended, noting that the procurement process of the remaining 68 per cent was being concluded.
“I present to you our 2017 budget performance as well as the 2018 budget proposals, as you are aware, the beginning of 2017 was very challenging.
ADVERTISEMENT
“However, we are delighted that government had made significant release this month. As at today about 76 per cent of the 2017 capital budget was released out of which 32 per cent was expended.
“And the procurement process of the remaining 68 per cent is being concluded. About 99 per cent personnel cost and 15 percent overhead costs were released and were 100 per cent utilised.
“Our targeted Internally Generated Revenue (IGR) for 2017 was N4, 852,955,428 and we were able to realise a total of N4, 129,348,493 which represent about 85 per cent which has helped us to sustain the operations,“ he said.
The managing director said that the corporation target for 2018 is to improve on operational efficiency hence; its 2018 Budget proposal is being guided by the directive of Federal Ministry of Budget and Planning.
Okhiria said NRC was making a capital proposal of N11.43billion with personnel cost of N5.29 billion and an overhead proposal of N105,400.
ADVERTISEMENT
He said it has projected to realise N4.29 billion in 2018.
“The capital proposal is aimed at continuous maintenance of both narrow and standard gauge lines, procurement of spare parts and rehabilitation of the locomotives coaches and wagons.
“Continue with the signalling and telecom system upgrade while the IGR will be mainly to cover operational expenses. “
Mr Aminu Sani, the Chairman House Committee on Transport, said the committee had earlier asked the NRC team to appear before it in respect to the rail accident.
He said that looking at NRC performance in 2017 and its proposal for 2018; it will be tendered before the appropriation committee to go through it.
ADVERTISEMENT
Sani said he wondered why NRC was spending money on rehabilitation of the narrow gauge line, when it’s going to be concession.
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.ng
Recommended articles
Comparing comprehensive vs third-party auto insurance in Nigeria
Kaduna Speaker to El-Rufai's son: Your threat won't stop us from probing your father
Makinde demolishes building where Yoruba Nation agitators operate from
APC chieftain, Lukman faults NWC for backing Ganduje over suspension
EFCC gets permission to drag ex-governor Yahaya Bello to court tomorrow
Court stops EFCC from arresting Yahaya Bello hours after agents surrounded his house
Tinubu hails Dangote's diesel price cut, expects economic boost
'Is this relevant?' - Nigerians react as Gov Adeleke signs bill for new Osun State logo
Why donated blood is not free for patients
Pulse Sports
Lionel Messi's son breaks the internet after scoring five goals for Inter Miami
Naija Stars Abroad: Onyedika, Boniface, and Osimhen shine across Europe
Victor Osimhen and Tobi Amusan make list of Forbes’ 30 under 30 Class of 2024
Alex Iwobi makes Premier League history which Mikel, Yakubu, Kanu could not achieve
Like Michael Jordan - Details of Victor Osimhen’s ‘superhuman’ jump against Monza emerges
ADVERTISEMENT
