The project, awarded by former President Muhammadu Buhari, was completed in May.
It is part of the larger Port Harcourt-Maiduguri eastern narrow gauge railway project.
Mr Ayo Dada, the project supervisor from the federal ministry of transportation, formally transferred the railway to the NRC during a brief ceremony on Thursday in Port Harcourt.
He said that the rail line has significantly improved passenger movement between Rivers and Abia states.
The railway stations in Port Harcourt, Elelenwo, Obuzor, Umugo and Aba Stations, among others, were included in the handing over documents.
In his remarks, the NRC managing director, Mr Ben Iloanusi, commended the federal and the ministry of transportation for the timely completion and transfer of the project.
Mr Iloanusi, represented by the NRC deputy manager (Civil), Adesegun Ogunade, said that the revitalisation of the railway has greatly benefited Nigerians seeking affordable transportation options.
“The rail line, now in operation, has started mitigating the impact of high transportation costs caused by economic challenges.
“Train services have been running for some time and passengers have reported that it has made commuting between Port Harcourt and Aba more convenient, faster and cheaper.
“People are already experiencing the benefits of this government’s policies and programmes.’’
He assured that adequate security arrangements had been taken to ensure the safety of workers and passengers.
“One of the security measures implemented to protect passengers and infrastructure is the engagement of vigilante groups to provide an additional layer of protection.
“The federal government, the transport ministry and the presidency have also introduced their own security measures to ensure citizens can enjoy affordable and secured train services,” he said.
