The Nigerian Railway Corporation earned N715.09 million from passengers in the third quarter of 2022. However, the figure fell by 60.52 percent when compared to the N1.81 billion received in the third quarter of 2021.
This is contained in the National Bureau Statistics Rail Transportation Data for Q3 and Q4 2022, which was released on Tuesday in Abuja.
The report further showed that the number of rail transport passengers in Q3 2022 dropped by 500,348.
“This is lower than the 696,841 recorded in Q3 2021, representing a growth rate of -28.20 percent. ”
Similarly, N101.84 million was collected as revenue from goods/cargos in Q3 2022, a 7.04 percent decrease from N109.56 million in Q3 2021.
“Also, other receipts grew by 707.31 percent in Q3 2022 from the N14.61 million recorded in Q3 2021.”
In addition, the report showed that 33,312 tonnes of goods were transported in Q3 2022, compared to 51,726 tons reported in Q3 2021.
The corporation earned N1.15 billion from passengers in Q4 2022, a 39.54 percent decrease from Q4 2021 when it earned N1.91 billion.
It also stated that revenue generated from goods in Q4 2022 was N157.23 million, up 63.56 percent from N96.13 million in Q4 2021.
Other income receipts were N382.17 million, an increase of 3,316.18 percent from N11.19 million in Q4 2021.
The report said in Q4 2022, the number of passengers increased by 30.10 percent from 1.03 million persons recorded in Q4 2021 to 1.34 million persons in Q4 2022.
It said the volume of goods transported decreased by 1.50 percent in Q4 2022.
“However, on an annual basis, the number of passengers increased by 18.36 percent.”
Nigerian Railway Corporation is a state-owned enterprise with exclusive rights to operate railways in Nigeria.
