The National Bureau of Statistics (NBS) has released data on rail transportation in Nigeria for the third and fourth quarters of 2022. According to the report, the Nigerian Railway Corporation generated N715.09 million in revenue from passengers in Q3 2022. This marked a significant drop of 60.52% compared to the N1.81 billion received in the same quarter of 2021.

The report also revealed that N101.84 million was collected as revenue from goods/cargos in Q3 2022, which showed a decrease of 7.04% compared to the N109.56 million received in Q3 2021. The data indicates a decline in revenue from both passengers and goods/cargos for the railway corporation during the third quarter of 2022.

“Also, other receipts grew by 707.31 per cent in Q3 2022 from the N14.61 million recorded in Q3 2021.”

According to the report, there was a decrease of 500,348 passengers in the number of rail transport passengers during Q3 2022.

“This is lower than the 696,841 recorded in Q3 2021, representing a growth rate of -28.20 per cent. ”

According to the report, the Nigerian Railway Corporation transported 33,312 tonnes of goods in Q3 2022, which showed a decrease from the 51,726 tons transported in Q3 2021.

Moving on to Q4 2022, the report revealed that the corporation generated a revenue of N1.15 billion from passengers during that period. This marked a decline of 39.54% compared to the N1.91 billion recorded in Q4 2021. However, revenue generated from goods in Q4 2022 was N157.23 million, which showed an increase of 63.56% compared to the N96.13 million reported in Q4 2021.

The report also noted that other income receipts stood at N382.17 million, which represented a significant increase of 3,316.18% compared to the N11.19 million recorded in Q4 2021.

Furthermore, the number of passengers increased by 30.10% in Q4 2022, rising from 1.03 million persons in Q4 2021 to 1.34 million persons in Q4 2022. However, the volume of goods transported showed a decrease of 1.50% during the same period.

“However, on an annual basis, the number of passengers increased by 18.36 per cent.” (NAN)