Business
Train passengers stranded, NRC loses millions as unions strike

The three-day warning strike embarked upon by workers of the Nigerian Railway Corporation (NRC) has grounded train services across the country.
Passengers for the Abuja-Kaduna train services; Lagos-Ibadan, among others, were stranded on Thursday as railway unions down tools to press home their demands for improved welfare.
The Nigerian Union of Railway Workers (NUR) and the Senior Staff Association (SSA) had jointly issued a statement saying the warning strike, which commenced yesterday will end on Saturday.
Officials of the unions said the ongoing strike action was to send a warning signal to the right quarters to heed their demands for improved welfare and standard condition of service.
They said their take-home pay was bad and needed an upward review. The unions said failure to address their grievances would be followed by protracted strike action.
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Daily Trust reports that rising insecurity has recently made trains the preferred choice of transportation for many Nigerians especially from Abuja to Kaduna, Lagos to Ibadan, among others.
There are concerns that the corporation would lose millions of naira because of the strike.
How negotiations collapsed
The railway unions and the management of NRC had engaged in a series of meetings to avert the strike without reaching an agreement. Even the last week’s meeting with the Minister of Transportation, Rotimi Amaechi, was deadlocked, it was learnt.
Daily Trust observed that the Abuja-Kaduna train service was grounded as scores of passengers caught unaware were stranded at the Idu Train Station in the FCT. Many of them had to look for alternatives.
“I am not aware of the strike,” said Olayinka Joseph, a passenger. “I just came to the station to travel to Kaduna and discovered the railway staff were not working,” she said.
A Zaria-bound Ibrahim Audu was also frustrated.
“I took a taxi and paid N1, 500 to the train station but all the offices have been locked. It means I will spend another N2, 000 or more to go to the park in Jabi to begin to look for a vehicle to Kaduna,” he said.
Another passenger, Hassan Ismaila, said he would cancel his trip till Sunday when the staff would have resumed. He also said the NRC unions should learn how to publicise their strike well ahead of time so that passengers could be better informed.
“I prefer the Abuja-Kaduna train to cars because of the insecurity along the road,” Halima Ibrahim, who frequents the route, said.
“Honestly, it is too early for the railway workers to join other unions who believe a strike is the only option to press home their demands,” she said.
“Conversely, it means the government is not serious by allowing simple issues to degenerate to self-help. Remember, railway revitalisation is one of the showcase projects of this administration; they should take it seriously,” she said.
In Lagos, the protesting workers on Thursday shut the Mobolaji Johnson Train Station and other train services. The workers sang solidarity songs bearing placards reading, ‘Good salaries bring better results, bad salaries kill morale’; ‘Railway workers’ salaries least under the FMOT – (Federal Ministry of Transport)’, among others.
“Thousands of people who rely on rail transportation would arrive at our places of work very late,” Said Shakiru Ma’aruf.
“The train helps a lot and to a greater extent reduce the pressure on the roads occasioned by traffic gridlock. I am not happy those concerned allowed this to happen,” another passenger, Helen John, said.
General Secretary NUR, Comrade Segun Esan, said, “When you value the whole of the infrastructures, the whole of the assets in train service, starting from the locomotive, the coaches or the locomotive and the wagons, it is clearly over and above N2.5bn and the driver you are asking to drive such equipment is being paid a paltry amount as low and as so unbelievable as N26, 000, N30, 000, N36, 000 as the case may be! It doesn’t augur well.”
Daily Trust reports that the minimum wage in Nigeria is N30,000 and many wondered why NRC workers would be paid below that if the claim by the general secretary is true.
NRC may lose N100m
Meanwhile, the strike action will cost the NRC huge sums in economic losses daily. Checks by our correspondent showed that the NRC might lose over N57 million in the three days the strike action will last on the Abuja-Kaduna train service.
This paper estimated that it may lose up to N30m in the Lagos axis (Lagos-Ibadan and the intra-city train services) and about N13m on the Itakpe-Warri rail service.
The NRC will lose about N19m daily from its almost 5,000 daily passenger traffic on the Abuja-Kaduna corridor except on Wednesdays when it operates limited scheduled services due to maintenance programmes on the locomotives.
The NRC runs 12 coaches on the corridor using two Diesel Multiple Units (DMU) purposely for the express services. It operates up to eight trips on the corridor: four from Abuja and four from Kaduna. The economy coaches carry up to 88 passengers whilst the business class coaches carry up to 56 passengers.
The NRC charges N2, 600 per seat for the economy class (N3, 000 for express service) and N5, 000 for business class.
Cumulatively, it makes between N15m to N19m depending on the passenger traffic.
The in-train food vendors who make over N100, 000 daily would also lose while the about 100 cabs operating at the Idu Station alone could lose N1m daily.
The big losers apart from NRC would be the cab operators in Idu, Kubwa and Rigasa train stations which witness the largest traffic on the corridor.
Small businesses dealing in food vending, POS services, snacks, drinks and other small businesses will be counting losses without succour. Their potential losses could not be exactly established.
For the Lagos axis, the NRC would be losing an estimate of about N10m daily on the Lagos-Ibadan axis due to the strike embarked upon by railway workers.
In Lagos district where the NRC operates the newly launched Lagos-Ibadan standard gauge, the Lagos-Ogun intercity train services as well as the evacuation of cargoes from the port, the corporation is estimated to be losing over N10m daily. This is calculated on the estimated number of passengers on the services.
For the Lagos-Ibadan Train Service (LITS), about 1,000 passengers use the train daily and at an average of N2, 600 per passenger on the Economy Coach, NRC would lose N2.6m. For the intercity from Lagos to Ijoko, NRC conveys over 10,000 daily and at an N460 flat rate, it loses N5m daily.
We’re engaging unions – NRC
The Manager of the Abuja-Kaduna Train Service, Mr Pascal Nnorli, said the strike has crippled all train activities adding that the NRC management will further engage the unions to resolve the matter.
He also indicated that the matter might also involve the National Salaries, Wages and Income Commission, which has the constitutional power to review the work conditions of federal government workers.
Daily Trust
Aviation
Aviation workers threaten nationwide airports shutdown over Customs officer assault

Aviation workers threaten nationwide airports shutdown over Customs officer assault
Aviation unions have announced plans to shut down airports across Nigeria starting March 31 in protest against the failure to remove a customs officer who allegedly assaulted the Director of Aviation Security at the Federal Airports Authority of Nigeria (FAAN).
In a joint statement signed by Ocheme Aba (NUATE), Frances Akinjole (ATSSSAN), and Abdul Rasaq Saidu (ANAP), the unions condemned the repeated physical assaults on FAAN staff, vowing not to tolerate such incidents any longer.
The unions also called on the government to urgently reduce the number of customs officers operating within the aviation sector, aligning with global best practices. They warned that if their demands are not met, they will proceed with the nationwide shutdown, potentially disrupting air travel and operations.
The statement reads: “Considering the enormity and frequency of physical and psychological assault on the staff and management personnel of FAAN, of which there is no end in sight, we are compelled to inform the management of the unwavering determination of our unions to cause the establishment of a clear framework of mutual respect among FAAN staff and the security agencies operating at the airports.
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“Consequential sanctions are in place which guarantee the safety and human rights of FAAN staff. We shall direct all the workers to withdraw from the airports with effect from March 31, 2025, pending when such protocols are established.
“The recent assault on no less a personality than the Director of Aviation Security of FAAN is one too many, which leaves a taste too bitter to swallow. It is our sincere hope that our demand in the above respect is well met to avoid the industrial conflagration that will ensue in the absence of acceptable remedial actions.”
In response, Abdullahi Maiwada, the spokesperson for Customs, stated in a recent release that the disagreement between FAAN officials and officers of the Nigeria Customs Service (NCS) stemmed from a miscommunication over equipment movement and seating arrangements.
Aviation workers threaten nationwide airports shutdown over Customs officer assault
Business
SEC announces stricter measures to protect investors

SEC announces stricter measures to protect investors
The Securities and Exchange Commission (SEC) has reaffirmed its commitment to protecting investors in Nigeria’s capital market by cracking down on fraudulent activities.
According to the Director-General of SEC, Dr. Emomotimi Agama, operators engaging in unscrupulous practices will face strict penalties as the Commission prioritizes safeguarding investor interests.
“So, clearly for us, it is getting people to understand that there is no hiding place anymore for anybody that has the intention to defraud Nigerians and to defraud anybody that is investing in this market,” Dr. Agama stated, emphasizing the Commission’s zero-tolerance policy.
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Dr. Agama highlighted that the Investments and Securities Act (ISA) 2007 serves as the framework for securities regulation in Nigeria, ensuring that market operators adhere to high ethical standards.
He emphasized the importance of the “fit and proper person’s test,” which requires operators to meet specific regulatory criteria to maintain their licenses.
“This is because the very ethics of regulating or registering a securities market operator is in the principle of the fit and proper person’s test,” he explained.
“What you have been seeing most recently by the revocation of licenses, the suspension of operators and our follow-up to operators that are not registered with the SEC is only a tip of the iceberg as to what we intend to do this year.”
Dr. Agama assured stakeholders that the SEC will leverage its regulatory powers under Nigerian law to deter fraudulent activities, noting, “We believe strongly that a protected investor is a powerful investor.”
SEC announces stricter measures to protect investors
Business
Bitcoin rises above $86,000 as crypto market gains momentum

Bitcoin rises above $86,000 as crypto market gains momentum
Bitcoin and other leading cryptocurrencies extended their gains on Monday, buoyed by positive investor sentiment despite concerns over upcoming U.S. tariffs and key economic data releases later this week.
As of 7am WAT, Bitcoin rose 3.2% to $86,590, while Ethereum gained 2.3%, trading at $2,047.
The global cryptocurrency market capitalization increased by 2.94% in the past 24 hours, reaching $2.84 trillion.
Other notable performers included XRP, Cardano, and Dogecoin, which posted gains of 3%, 2%, and 3.8%, respectively. Chainlink, Avalanche, Hedera, and Stellar recorded growth ranging from 3% to 10%.
“Bitcoin is holding above $86,000, registering a 3% gain today. The key resistance level to watch is $86,700; a breakout could pave the way for $90,000,” said Vikram Subburaj, CEO of Giottus.
Bitcoin’s market capitalization surged to $1.727 trillion, with dominance rising to 60.73%. Its 24-hour trading volume soared by 93% to $18.2 billion, while stablecoin transactions accounted for 94.74% of total crypto trading, reaching $57.58 billion, according to CoinMarketCap.
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Solana Outperforms Peers Amid Positive Market Sentiment
Solana (SOL) emerged as a standout performer, surging over 7% in the past 24 hours to trade above $139.
The rally was fueled by reports suggesting that President Trump’s April 2 tariffs may be more targeted than initially feared, easing market concerns.
Weekend rumors indicated that the tariffs might include country exemptions and non-cumulative charges on metals, contributing to improved sentiment across global markets.
The Federal Reserve’s projections for two rate cuts this year further supported risk assets, with the central bank describing potential tariff-induced inflation as “transitory.”
BitMEX co-founder Arthur Hayes expressed optimism about Bitcoin’s trajectory, stating, “The Fed’s policy orientation could help Bitcoin achieve $110k before it retests $76.5k.”
Solana’s momentum aligns with unprecedented acceptance rates. DeFiLlama reported that Solana’s total value locked (TVL) reached 54.87 million SOL, its highest level since June 2022. Ali Charts revealed that a record 11.09 million addresses now hold SOL, underscoring growing adoption.
Bitcoin rises above $86,000 as crypto market gains momentum
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