The National Bureau of Statistics (NBS) reports that in Q3 2022, the Nigerian Railway Corporation earned N715.09 million from fares.
This information was made public on Tuesday in Abuja as part of the NBS Rail Transportation Data for Q3 and Q4 2022.
According to the data, the sum was down 60.52 percent from the N1.81 billion received in the third quarter of 2021.
Similarly, revenue from goods/cargos was N101.84 million in Q3 2022, down 7.04 percent from N109.56 million in Q3 2021.
“Also, other receipts grew by 707.31 per cent in Q3 2022 from the N14.61 million recorded in Q3 2021.”
According to the data, there was a decrease of 500,348 rail passengers in Q3 2022.
“This is lower than the 696,841 recorded in Q3 2021, representing a growth rate of -28.20 per cent.”
The study also revealed that in Q3 2022, 33,312 tonnes of goods were transported, down from 51,726 tonnes in Q3 2021.
Passenger revenue for the company was N1.15 billion in Q4 2022, down 39.54% year-over-year from N1.91 billion in the same period in 2021, according to the report.
It also claimed that Q4 2022 merchandise sales were N157.23 million, a 63.56 percent increase over the N96.13 million reported for the corresponding period in 2021.
From N11.19 million in Q4 2021, it reported a 3,316.18 percent rise to N382.17 million in other revenue receipts.
According to the data, passenger volume rose by 30.10 percent in Q4 2022, from 1.03 million in Q4 2021 to 1.34 million.
According to the report, cargo volume fell 1.50 percent in the fourth quarter of 2022.
“However, on an annual basis, the number of passengers increased by 18.36 per cent.”
