According to the National Bureau of Statistics (NBS), the Nigerian Railway Corporation recorded a revenue of N1.07 billion from passenger fares in the fourth quarter of 2023.
This information was disclosed in the NBS Rail Transportation Data for the fourth quarter of 2023, released in Abuja on Monday.
The report indicated a decrease of 7.51 per cent in passenger revenue compared to the N1.15 billion generated in the fourth quarter of 2022.
Furthermore, the data revealed that revenue from goods and cargo amounted to N423.22 million in the fourth quarter of 2023, marking a significant increase of 169.16 per cent from the N157.23 million recorded in the same period of 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.
“This is lower than the 1,337,108 recorded in Q4 2022, representing a growth rate of -49.73 per cent,” it said.
It said 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)
