NRC generates N1.07bn from passengers in Q4, 2023

The Nigerian Railway Corporation generated N1.07 billion as revenue from passengers in Q4 of 2023, the National Bureau of Statistics (NBS) has said.

This was 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 percent compared with the N1.15 billion generated in Q4 of 2022.

Similarly, it showed that N423.22 million was collected in Q4 2023 as revenue from goods/ cargos, this increased by 169.16 percent from N157.23 million received in Q4 2022.

“Also, other receipts grew by 3.02 percent 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 percent.”

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 percent 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 percent and 144.32 percent respectively, compared with 2022,” the report said.