Nigerian Railway Corporation generates ₦1.07 billion revenue in Q4 2023

News Agency Of Nigeria

April 1, 2024 12:27 PM

The report showed that the figure decreased by 7.51% compared with the ₦1.15 billion generated in Q4 of 2022.

Nigerian Railway Corporation (Thisday)

The Nigerian Railway Corporation generated ₦1.07 billion as revenue from passengers in Q4 of 2023, the National Bureau of Statistics (NBS) has said.

This is contained in the NBS Rail Transportation Data for Q4 2023 released in Abuja on Monday. The report showed that the figure decreased by 7.51% compared with the ₦1.15 billion generated in Q4 of 2022.

Similarly, it showed that ₦423.22 million was collected in Q4 2023 as revenue from goods/cargos, this increased by 169.16% from ₦157.23 million received in Q4 2022.

“Also, other receipts grew by 3.02% from the ₦382.17 million recorded in Q4 2022 to ₦393.72 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%. ”

It said on an annual basis, the number of rail transport passengers decreased by 32.08%, 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% in 2023 from the ₦4,546,342,050 recorded in 2022 to ₦4,426,495,760 in 2023.

“However, the volume of cargo and revenue from cargo in 2023 increased by 102.04% and 144.32% respectively, compared with 2022,” the report stated.

News Agency Of Nigeria