Railway generates N715.09m from passengers in Q3 2022

The Nigerian Railway Corporation (NRC) generated N715.09 million in revenue from passengers in Q3 of 2022.

This was contained in the the National Bureau of Statistics (NBS) Rail Transportation Data for Q3 and Q4 2022 released on Tuesday, April 18.

The NBS stated that the figure dropped by 60.52 per cent compared to the N1.81 billion received in Q3 of 2021.

It noted that N101.84 million was collected in Q3 2022 as revenue from goods/cargos, saying this dropped by 7.04 per cent from N109.56 million received in Q3 2021.

The NBS disclosed that other receipts grew by 707.31 per cent in Q3 2022 from the N14.61 million recorded in Q3 2021.

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It said the number of rail transport passengers in Q3 2022 dropped by 500,348, noting that this was lower than the 696,841 recorded in Q3 2021, representing a growth rate of -28.20 per cent.

The NBS further disclosed that 33,312 tonnes of goods were transported in Q3 2022, compared to 51,726 tons reported in Q3 2021.

It said the corporation generated revenue of N1.15 billion from passengers in Q4 2022, which indicated a decrease of 39.54 per cent in Q4 2021 which recorded N1.91 billion.

It stated that revenue generated from goods in Q4 2022 was N157.23 million, which was higher by 63.56 per cent compared to the N96.13 million reported in Q4 2021.

The NBS said other income receipts stood at N382.17 million, an increase of 3,316.18 per cent from the N11.19 million recorded in Q4 2021.

It stated that in Q4 2022, the number of passengers increased by 30.10 per cent from 1.03 million persons recorded in Q4 2021 to 1.34 million persons in Q4 2022.

The NBS added that the volume of goods transported decreased by 1.50 per cent in Q4 2022.

“However, on an annual basis, the number of passengers increased by 18.36 per cent,” it said.

The Star