• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Monday, August 25, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Diesel Hike: Tougher Times For Commuters As Federal Govt Plans Train Fare Increase

by Sivowaku Abiodun
3 years ago
in Business
Deisel
Share on WhatsAppShare on FacebookShare on XTelegram

The federal government has disclosed plans to raise the cost of passenger and freight train services to reflect the current reality of increase in operational costs especially in the price of diesel.

Advertisement

This portends tougher times for commuters and companies who would have to pay more for transportation in addition to the current high cost of of food and other basic necessities.

The ministry of Transportation, which made the planned increase known  however said the price increase will be ‘minimal’.

Making this known in Lagos, managing director of the corporation, Engr. Fidet Okhiria said, the minimal increase has become inevitable as it now relies on Railway Property Company Limited to purchase diesel.

Companies in Nigeria have seen huge increase in their operating costs since this year began as the soaring costs of diesel and transportation have made it increasingly difficult for them to operate.

RELATED

JUST-IN: NAICOM Revokes Operational Licenses Of Niger Insurance, Standard Alliance

Delayed Guidelines Drag Insurance Recapitalisation Process

7 hours ago
Large-cap Stock Drives Local Bourse To N180bn Gains

Shareholders Get N117.86bn Half-year Dividends From 12 Listed Firms

7 hours ago
ADVERTISEMENT

Fuel prices have soared since Russia invaded Ukraine in February, raising costs for firms in Nigeria, where many businesses rely on diesel-powered generators for power amid unstable grid electricity

The price of Automotive Gas Oil, popularly known as diesel, has soared by almost 178 per cent to N800 per litre from N288 in January, forcing some firms to restructure their production hours, while others completely shut down operations.

However, the current ticket fare per passenger from Lagos to Ibadan on Economy and Business Class is N2,500 and N6,000 respectively, while the inter state ticket fare for  narrow gauge railway line from Iddo to Ijoko/Kajola is a flat rate of N460.00 per passenger.

ADVERTISEMENT

The NRC managing director said explained that the current price of ticketing cannot meet the running cost of providing freight and passenger train services.

Okhiria stated further “that the management cannot go ahead and increase price of tickets like what currently obtains in the road sub-sector, adding that, management has sought approval from the transport ministry to adjust the cost of tickets.”

According to him, train services are currently subsidised as government provides funds for payment of salaries and capital projects.

The NRC boss also hinted that some interested bidders have submitted tenders to convert the diesel locomotives to use gas and electricity to power the trains.

He was however quick to add that the proposals will have to go through due process to authenticate its efficacy before approval can be granted.

While patronage of the Lagos to Ibadan train is not encouraging as some people felt the fare is high, observers said, further hike may lead to a slight drop in the volume of train passengers, especially, on inter-state trip.

The surging operating costs of firms in Nigeria show no signs of abating.

Segun Ajayi-Kadir, director general of the Manufacturers Association of Nigeria (MAN), recently urged the government to intervene to prevent many businesses from collapsing amid multiple challenges.

“It is therefore imperative that manufacturing be given priority and safe guarded against steep deadlines,” he said in a July statement


Join Our WhatsApp Channel

Nigerians can now earn US Dollars monthly by acquiring domains cheaply and reselling for profits up to $18,000 (nearly ₦30Million). Beneficiaries include professionals, entrepreneurs, civil servants and more. Click here to start.


Tags: deisel
SendShare10191Tweet6370Share
ADVERTISEMENT
Previous Post

PDP Crisis Is Resolvable, Says Jibrin

Next Post

A Vote For Monetary Policy Rates Hike

Sivowaku Abiodun

Sivowaku Abiodun

You May Like

JUST-IN: NAICOM Revokes Operational Licenses Of Niger Insurance, Standard Alliance
Business

Delayed Guidelines Drag Insurance Recapitalisation Process

2025/08/25
Large-cap Stock Drives Local Bourse To N180bn Gains
Business

Shareholders Get N117.86bn Half-year Dividends From 12 Listed Firms

2025/08/25
UBA Bank plc
Business

UBA Customers To Win N150m In Super Savers Promo

2025/08/25
Bureau Rate NIMASA High On Public Service Reforms
Business

NIMASA, Engineers Strengthen Collaboration For Blue Economy Growth

2025/08/25
Ojulari’s First 100 Days at NNPC Ltd: A Bold Start Anchored On Reform, Transparency, And Clean Energy
Business

After 3 Misses, NNPC Sets Nov For AKK Gas Pipeline Completion

2025/08/25
Job Losses: 483,464 Persons Withdraw N247.47bn From Pension Savings
Business

Board Inauguration Beyond Our Control, PenCom Responds To NLC

2025/08/25
Leadership Conference advertisement

LATEST

Olamijuwon Wins Historic Pamodzi Award

Dr. Tolulope Olagoke Kolawole’s Advocacy on Long-Term Complications of Substance Use Among Nigerian Youths and Adolescents

APC Suspends Top Edo Govt’s Official Over Alleged Anti-party Activities

Gov AbdulRazaq Hails Kwara-born Scientist Over Global HIV Research Grant Win

Why Obasanjo Hated Buhari – Garba Shehu

Sokoto Gov’t Faults NBS Poverty Rating, Launches Fresh Survey

ASUU Asks Federal Gov’t To Suspend Action On 9 New Varsities

EFCC Orders Arrest Of Dismissed Staff Spotted On Lege Miami’s Matchmaking Show

1,000 Insurgents’ Groups Operating In Africa — Prof. Gambari

‘Britain, Not God, Created Nigeria,’ Says Pastor Adefarasin

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.