NRC posted N26.4bn deficit in 2023 –Report

The Nigerian Railway Company recorded a internet deficit of N26.4bn within the 2023 monetary yr, regardless of producing N19.17bn in income, highlighting the persistent monetary pressure going through the nation’s rail operator.

In line with the monetary assertion by the Ministry of Finance Included, a breakdown of the 2023 efficiency reveals that non-exchange income stood at N12.12bn, whereas alternate income contributed N7.05bn, bringing complete earnings to N19.17bn. Nonetheless, this was outweighed by complete expenditure of N45.58bn, ensuing within the reported deficit.

On the asset aspect, the NRC reported complete non-current property of N862.86bn in 2023, reflecting the size of infrastructure and long-term investments beneath its management. Present property included receivables of N20.75m, stock of N5.40bn, and financial institution and money balances of N3.34bn.

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