The National Bureau of Statistics reported that the Nigerian Railway Corporation made N1.07 billion in revenue from passengers in the fourth quarter of 2023.
The NBS Rail Transportation Data for Q4 2023 released in Abuja on Monday contains this information.
The report indicates that the amount decreased by 7.51 percent compared to the N1.15 billion generated in Q4 2022.
Similarly, revenue from goods/cargoes increased by 169.16 percent from N157.23 million in Q4 2022 to N423.22 million in Q4 2023.
“Additionally, other earnings grew by 3.02 percent from N382.17 million in Q4 2022 to N393.72 million in Q4 2023.
The report states that the number of rail transport passengers in Q4 2023 was 672,198.
“This is lower than the 1,337,108 recorded in Q4 2022, representing a growth rate of -49.73 percent. ”
On an annual basis, the number of rail transport passengers decreased by 32.08 percent, from 3,212,948 in 2022 to 2,182,388 in 2023, the report said.
The NBS reported that the revenue received from passengers decreased by 2.64 percent in 2023 from N4,546,342,050 in 2022 to N4,426,495,760 in 2023.
“However, the volume of cargo and revenue from cargo in 2023 increased by 102.04 percent and 144.32 percent respectively, compared with 2022,” the report said.
(NAN)
