NBS Says Nigerian Railway Generated N1bn Revenue in Three Months

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According to the National Bureau of Statistics, the Nigerian Railway Corporation is said to have generated N1.07bn as revenue from passengers in the fourth quarter of 2023.

This is contained in the NBS Rail Transportation Data for the fourth quarter of 2023 which was released in Abuja yesterday..

The report showed that there was a considerable decrease in the figure by 7.51 percent compared with the N1.15bn generated in the fourth quarter of 2022.

Revenue from goods and cargoes grew by 169.16 percent to N423.22m from N157.23m that was generated in the same period of the previous year.

“Also, other receipts grew by 3.02 per cent from the N382.17m recorded in Q4 2022 to N393.72m recorded in Q4 2023,” the report stated, adding that the number of rail transport passengers in the fourth quarter of 2023 went down by 49.73 percent to 672,198 instead of 1,337,108 in the previous period being compared.

The report also stated that on an annual basis, the number of rail transport passengers decreased by 32.08 per cent, from 3,212,948 recorded in 2022 to 2,182,388 recorded in 2023, and the revenue received from passengers also went down by 2.64 per cent in 2023 from the N4.55b recorded in 2022 to N4.43bn in 2023.

“However, the volume of cargo and revenue from cargo in 2023 increased by 102.04 per cent, and 144.32 per cent respectively, compared with 2022,” the report said.

 

 

 

 

 

 

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