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The Nigerian Railway Corporation generated N1.07 billion as revenue from passengers in Q4 of 2023, the National Bureau of Statistics (NBS) has said.
The NBS Rail Transportation Data for Q4 2023, which was made public on Monday in Abuja, includes this information.
According to the report, the amount generated in Q4 of 2022 was N1.15 billion, a decrease of 7.51%.
Similarly, it indicated that revenue from goods and cargo was collected in Q42023, amounting to N423.22 million, up 169.16% from N157.23 million in Q42022.
“Also, other receipts grew by 3.02 per cent from the N382.17 million recorded in Q4 2022 to N393.72 million recorded in Q4 2023.
The report said that the number of rail transport passengers in Q4 2023 stood at 672,198.
“This is lower than the 1,337,108 recorded in Q4 2022, representing a growth rate of -49.73 per cent,” it said.
According to the report, the number of passengers using rail transportation fell by 32.08% year over year, from 3,212,948 in 2022 to 2,182,388 in 2023.
According to the NBS, passenger revenue fell by 2.64 percent in 2023 from N4,546,342,050 in 2022 to N4,426,495,760 in 2023.
The report stated, “However, compared with 2022, the volume of cargo and revenue from cargo in 2023 increased by 102.04 percent and 144.32 percent, respectively.”
(NAN)
