NBS Reports That NRC Earned N1 Billion From Train Services In Just 3 months

ACCORDING to the National Bureau of Statistics (NBS), passenger revenue for the Nigerian Railway Corporation (NRC) in the fourth quarter of 2023 amounted to N1.07 billion.

The NBS Rail Transportation Data for the fourth quarter of 2023, which was made public on Monday, April, in Abuja, included these information.

The report states that as compared to the N1.15 billion generated in the fourth quarter of 2022, the figure fell by 7.51%.

The revenue earned from goods/cargoes increased dramatically to N423.22 million from N157.23 million during the same period last year, a 169.16 percent increase.

As per the data, there were 672,198 rail transit passengers in the fourth quarter of 2023, compared to 1,337,108 in the previous period, a decrease of 49.73 percent.

The number of passengers using rail transportation fell by 32.08 percent on an annual basis, from 3,212,948 in 2022 to 2,182,388 in 2023, according to the report.

According to the NBS, passenger revenue fell by 2.64 percent in 2023, from N4.55 billion in 2022 to N4.43 billion 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 research stated.