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NRC rakes in N3bn revenue from rail services in 2019 …as MRS announces resignation of MD

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Chinazor Megbolu    |    

The Nigerian Railway Corporation (NRC) has announced it generated N3.09 billion revenue from rail services in 2019.

This was disclosed in a statement signed and issued by the Media Assistant to the Minister of Transportation, Mr. Taiye Elebiyo-Edeni at the weekend, stressing that N1.5 billion of the revenue came from the Abuja-Kaduna rail service.

The report hinted that the Abuja-Kaduna rail line, however, contributed nearly N130 million every month in 2019, compared to N80 million the previous year.

It also noted the rail line had been able to achieve success and buttressed that income generated from the Abuja-Kaduna rail service was used for maintenance works in other stations across the northern part of Nigeria.

“N90m was spent on running cost and payment of staff at the Maiduguri station, which could not operate for now due to insecurity in the state. 

“As at 2019, train operations nationwide generated about N3.09 billion and we are targeting about N6 billion when Lagos-Ibadan and Itakpe-Warri come on board.

“The reduction of passenger traffic from 80 to 40 persons per coach in compliance with the physical distancing rule will weigh on the estimated revenue for 2020,”  the statement said.

Meanwhile, MRS Oil Nigeria Plc has also announced the resignation of its Managing Director, Mrs Priscilla Thorpe-Monclus at the weekend.

This was made known in a statement by the oil marketing organisation, disclosing that the resignation of  Thorpe-Monclus took effect from August 5, 2020.

The company further announced the subsequent appointment of Mr. Marco Storari as the Managing Director in an acting capacity.

The MRS also stated that one of its Directors, Mr. Christopher Okorie has also resigned with effect from August 5, 2020.

The statement stated that the notification by the oil marketing giant was sent to the Nigerian Stock Exchange (NSE) on August 7, 2020, and signed by its Company Secretary, Mr. O.M. Jafojo.

“At the Board Meeting of August 5, 2020, the Board of Directors of MRS Oil Nigeria Plc, considered and approved the resignation of Mrs. Priscilla Thorpe-Monclus as Managing Director and Director of the Company, and the resignation of Mr Christopher Okorie as Director of the Company, 
effective August 5, 2020.

“The Board of Directors also considered and approved the appointment of Mr Marco Storari as Director and Managing Director (Acting) of the Company,’’ the statement said.

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