Nigerian Railway Corporation announces record revenue generation in Q3 2023
The Nigerian Railway Corporation performed brilliantly well in Q3 of the year 2023, as it generated N1.49 billion in revenue from passengers, the National Bureau of Statistics has announced.
This is contained in the NBS Rail Transportation Data for Q3 and Q4 2023 released in Abuja on Thursday.
According to the report, this is a 108.25% increase over the N715.09 million generated in the third quarter of 2022.
It revealed that N286.78 million in revenue from goods and cargo was received in Q3 2023, up 181.58% from N101.84 million in Q3 2022.
“Also, other receipts grew by 1.05 per cent in Q3 2023 from the N117.98 million recorded in Q3 2022,” according to the NBS Rail Transportation Data.
The report also disclosed that the number of rail transport passengers in Q3 2023 increased to 594,348.
It noted, “This is higher than the 500,348 recorded in Q3 2022, representing a growth rate of 18.79 per cent. In addition, the report showed 81,963 tons of goods were transported in Q3 2023, compared to 33,312 tons reported in Q3 2022.’’
