• About
  • Advertise
  • Contact
Thursday, October 23, 2025
  • Login
Vital News
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security
No Result
View All Result
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security
No Result
View All Result
Vital News
No Result
View All Result
Home Transport

High Cost Of Diesel Forces NRC To Reduce Lagos – Ibadan Train Trips

.. reduces trips from 6 to 2

Vital News by Vital News
August 10, 2022
in Transport
0
Share on FacebookShare on Twitter

Lagos – The hike in diesel price has forced the Nigeria Railway Corporation to reduce the number of trips on the Lagos-Ibadan Train Service by about 66.67 per cent, it was gathered on Tuesday.

It was also learnt that the corporation had sent recommendations to the Federal Ministry of Transportation for an adjustment in the transport fare on the train service.

The Managing Director, NRC, Fidet Okhiria, told our correspondent that though the service was still running, its trips had been reduced due to the persistent hike in diesel price.

Diesel prices have risen by over 300 per cent in a few months, forcing transporters of petrol, who power their trucks with diesel, to threaten strike before the prompt intervention of the Federal Government.

The spike in diesel price also warranted some level of petrol scarcity in Abuja and neighbouring states, as many truck owners could not afford the high cost, a development that made the Federal Government to raise the bridging claims being paid to petrol transporters.

RelatedStories

Dangote Group Denies Ownership Of Truck In Akungba-Akoko Accident

Ember Months : FRSC, Fleet Operators, Driving Schools, Partner To Enhance Safety On Roads

FRSC Confirms 10 Dead, 11 Injured In Crash On Lokoja – Obajana Road In Kogi

You Acted Outside The Law, Appeal Court Tells Governor Makinde Over Dissolution Of Oyo NURTW

Speaking on the impact of the high cost of diesel in the rail sector, Okhiria told our correspondent that the NRC had to cut down its trips, particularly on the Lagos-Ibadan route.

“The Lagos-Ibadan train service is running but we have reduced the number of trips on that route because of the diesel problem. We reduced the number of trips we are running because of the hike in diesel price,” he stated.

Asked whether the NRC would raise its transport fare as a result of the increase in diesel price, the corporation’s boss stated that it was outside the powers of the corporation to hike fares.

He explained that it was the responsibility of the Federal Government to make such decision, but noted that the NRC had made recommendations for adjustments.

Okhiria said, “We just can’t increase it by ourselves. The government has to do that. We have made some recommendations. But even the recommendations we made, the new price of diesel has overshot our workings as contained in the recommendations.

“However, we don’t want to price ourselves out of market too, because the price of petrol is not increasing as such, rather the increase is little when compared to diesel price. And you know we are competing with transporters on roads.”

Asked the number trips currently being done on the route, the NRC boss replied, “We are now doing two return trips as against six, which by now should have gone to 10. So we run just two trips now due diesel problem.”

Analysts at Financial Derivatives Company in their latest economic bulletin in August 2022 stated that headline inflation in Nigeria was set to surge again to 19.7 per cent due to the spike in diesel price, among other factors.

“The official headline inflation for July will be released on August 15. Our Lagos market survey and econometric model are indicating that there will be another surge of 1.1 per cent in headline inflation to 19.7 per cent,” they stated.

The analysts added, “If our projections are correct, it will be the 6th consecutive monthly increase and the highest inflation rate since 2006.

Apart from the annual inflation rate, month-on-month inflation, which is a more current measure of price movements, is also expected to follow a similar trend, rising to 1.84 per cent (24.52 per cent annualised).

“The most potent causative factors for price inflation in Nigeria today are exchange rate pass through (N667/$), the knock-on effect of the sharp increase in the price of diesel (N780/litre) and to a limited extent the impact of money supply growth and saturation (N48.8trn).”

They, however, noted that the exchange rate weakness at this time appeared to be more potent than other causative factors.

“It has had a 76 per cent impact on the price level compared to diesel (11.6 per cent),” the FDC analysts stated. (Punch)

Tags: dieselNRCtraintrips
Previous Post

3SC Coach, Edith Agoye resigns

Next Post

Terrorists Free 7 More Kidnapped Victims Of Abuja – Kaduna Train Attack

Vital News

Vital News

RelatedStories

Dangote Denies Ownership Of Truck Involved In Enugu Accident
News

Dangote Group Denies Ownership Of Truck In Akungba-Akoko Accident

October 23, 2025
Ember Months : FRSC, Fleet Operators, Driving Schools,  Partner To Enhance Safety On Roads
News

Ember Months : FRSC, Fleet Operators, Driving Schools, Partner To Enhance Safety On Roads

October 20, 2025
FRSC Confirms 10 Dead, 11 Injured In Crash On Lokoja – Obajana Road In Kogi
News

FRSC Confirms 10 Dead, 11 Injured In Crash On Lokoja – Obajana Road In Kogi

October 11, 2025
Your Exit Will Not In Anyway Affects Fortune Of PDP – Makinde To Atiku
Labour

You Acted Outside The Law, Appeal Court Tells Governor Makinde Over Dissolution Of Oyo NURTW

October 7, 2025
Dangote Spends N720bln To Acquire 4,000 CNG Trucks, Begins Free Distribution Of Fuel August 15
Oil & Gas

Conoil, Eterna, Others Join Dangote’s Free Fuel Delivery Scheme

September 23, 2025
Next Post

Terrorists Free 7 More Kidnapped Victims Of Abuja - Kaduna Train Attack

2023 : Lies, Malice , Disinformation Will Not Allow You To Go Far , Tinubu Tells Obi

DPO, 61 Others Convicted For Drug Offences In Minna

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Follow Us

Recommended

FUOYE Unveils Activities For 9th Convocation Ceremony

FUOYE Achieves Significant Growth In Research Output On Scopus By Prof OS AYANDA

8 months ago
INEC Cancels Election In 7 Polling Units In Kogi

INEC Cancels Election In 7 Polling Units In Kogi

3 years ago
NFF Appoints Eric Sekou Chelle New Super Eagles Head Coach

NFF Appoints Eric Sekou Chelle New Super Eagles Head Coach

10 months ago

Disregard Report Of Measles Outbreak In Kogi – State Govt.

3 years ago

Instagram

    Please install/update and activate JNews Instagram plugin.

Categories

  • Agriculture/ Water/ Mineral
  • Aviation
  • Business
  • Crime
  • Culture
  • Economy
  • Education
  • Entertainment
  • Environment
  • Football
  • Foreign
  • Gender
  • Health
  • Judiciary
  • Labour
  • Maritime/ Marine Transport
  • National
  • News
  • Oil & Gas
  • Opinion
  • Opinion
  • Politics
  • Power
  • Religion
  • Security
  • Sports
  • Tourism
  • Transport
  • Uncategorized

Topics

Abiodun Abuja APC arrest Atiku Bandits Bello Benue Buhari CBN cement Court Dangote death dies drugs Economy EFCC Election FG gunmen Hajj INEC Kano kidnap Kill Kogi Kwara Lagos NDLEA Niger Nigeria Ododo Ogun Oyo PDP Police Power refinery rescue road Security students Tinubu US
No Result
View All Result

Highlights

Trailer Crushes Female University Lecturer To Death In Lokoja

Governor Adeleke Appoints Davido Chairman Of Osun State Sports Trust Fund

FG Warns Buyers To Stay Off ARCEDEM, Radio Nigeria Land, Four Other Landed Property In Oyo

‎IMPI Revises Inflation Rate Projection To 14% From 17% For December

National Orthopedic Hospital Jalingo Signs MoU With Police Health Maintenance Limited

Former Kogi Senator In Trouble Over Attempts To Scuttle Appointment Of Amupitan As INEC Chairman, Action Raises Dust Among Kinsmen

Trending

Professor Amupitan Resumes Office As New INEC Chairman
News

Professor Amupitan Resumes Office As New INEC Chairman

by Vital News
October 23, 2025
0

Professor Joash Amupitan on Thursday resumed office as the new Chairman of the Independent National Electoral Commission...

Dangote Denies Ownership Of Truck Involved In Enugu Accident

Dangote Group Denies Ownership Of Truck In Akungba-Akoko Accident

October 23, 2025
Former Minister, Tanimu Turaki, Emerges Northern PDP Consensus Candidate As National Chairman

Former Minister, Tanimu Turaki, Emerges Northern PDP Consensus Candidate As National Chairman

October 23, 2025
Trailer Crushes Female University Lecturer To Death In Lokoja

Trailer Crushes Female University Lecturer To Death In Lokoja

October 23, 2025
Governor Adeleke Appoints Davido Chairman Of Osun State Sports Trust Fund

Governor Adeleke Appoints Davido Chairman Of Osun State Sports Trust Fund

October 22, 2025
ADVERTISEMENT
Vital News

Vital News is an online newspaper with a mission to uphold professional journalism by reporting and publishing only facts and figures-based news reports across Nigeria and beyond.

Recent News

  • Professor Amupitan Resumes Office As New INEC Chairman October 23, 2025
  • Dangote Group Denies Ownership Of Truck In Akungba-Akoko Accident October 23, 2025
  • Former Minister, Tanimu Turaki, Emerges Northern PDP Consensus Candidate As National Chairman October 23, 2025

Categories

  • Agriculture/ Water/ Mineral
  • Aviation
  • Business
  • Crime
  • Culture
  • Economy
  • Education
  • Entertainment
  • Environment
  • Football
  • Foreign
  • Gender
  • Health
  • Judiciary
  • Labour
  • Maritime/ Marine Transport
  • National
  • News
  • Oil & Gas
  • Opinion
  • Opinion
  • Politics
  • Power
  • Religion
  • Security
  • Sports
  • Tourism
  • Transport
  • Uncategorized

© 2022 Vital News - . All Rights Reserved.

No Result
View All Result
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security

© 2022 Vital News - Vital News by Vital News.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In