Nigerian Railway Corporation gained  N1.07 billion in passenger revenue in Q4 2023: NBS

The Nigerian Railway Corporation generated N1.07 billion as revenue from ticketing passengers in Q4 of 2023, the National Bureau of Statistics says.

This was announced in the NBS rail transportation data for Q4 2023, released in Abuja on Monday.

The report showed that the figure decreased by 7.51 per cent compared with the N1.15 billion generated in Q4 of 2022.

Similarly, it showed that N423.22 million was collected in Q4 2023 as revenue from goods and cargos, this increased by 169.16 per cent from N157.23 million received in Q4 2022.

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, lower than the 1,337,108 recorded in Q4 2022, representing a growth rate of -49.73 per cent.

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.

The NBS said the revenue received from passengers declined by 2.64 per cent in 2023 from the N4,546,342,050 recorded in 2022 to N4,426,495,760 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.

(NAN)