The Nigerian Railway Corporation (NRC) has disclosed that it is currently operating at a loss and has resorted to borrowing to sustain railway services across the country amid rising operational costs, particularly the soaring price of diesel.
Kayode Opeifa, Managing Director of the corporation, made the disclosure during the NRC’s second quarterly town hall meeting with members of staff in Lagos, where he reassured workers of management’s commitment to their welfare despite the corporation’s financial challenges.
According to a statement issued on Friday, Opeifa said the corporation remains committed to improving the welfare and working conditions of its employees but urged workers to understand the difficult financial realities confronting the organisation.
“Let me assure you that the corporation will continue to prioritise your welfare, but you must appreciate our precarious financial position. The fact is that the cost of diesel alone has almost made it impossible to operate our trains.
This post was originally published on this site.
