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Nigerians decry high fares • Govt should consider social benefits LCCI The commercial activities of the Lagos-Ibadan Rail Line struggled to a start on Monday. But its speed is being delayed by controversy over ‘elitist’ charges and concern about its commercial viability. There is also skepticism regarding its capacity to generate enough income to repay more than $1.5 billion in debt incurred on the project. x This week’s inaugural commercial trip only amplified the viability question. It turned out that only one of the several thousands of Nigerians that daily ply the Ibadan-Lagos route was willing and able to buy a seat (at the cost range of N3, 000 and N6, 000) for the 100-kilometer trip in the hundreds-capacity passenger train. ....
• Govt should consider social benefits LCCI The commercial activities of the Lagos-Ibadan Rail Line struggled to a start on Monday. But its speed is being delayed by controversy over ‘elitist’ charges and concern about its commercial viability. There is also skepticism regarding its capacity to generate enough income to repay more than $1.5 billion in debt incurred on the project. This week’s inaugural commercial trip only amplified the viability question. It turned out that only one of the several thousands of Nigerians that daily ply the Ibadan-Lagos route was willing and able to buy a seat (at the cost range of N3, 000 and N6, 000) for the 100-kilometer trip in the hundreds-capacity passenger train. ....