Nigerian railway generated N1bn revenue in three months

Nigerian railway generated N1bn revenue in three months post thumbnail image

The Nigerian Railway Company generated N1.07bn as income from passengers in This autumn of 2023, the Nationwide Bureau of Statistics has mentioned.

In response to Information Company of Nigeria, that is contained within the NBS Rail Transportation Knowledge for This autumn 2023 launched in Abuja on Monday.

The report confirmed that the determine decreased by 7.51 per cent in contrast with the N1.15bn generated in This autumn of 2022.

Income from items/cargoes ballooned by 169.16 per cent to N423.22m from N157.23m generated in the identical interval of the earlier 12 months.

“Additionally, different receipts grew by 3.02 per cent from the N382.17m recorded in This autumn 2022 to N393.72m recorded in This autumn 2023,” it acknowledged.

Associated Information

In response to the report, the variety of rail transport passengers in This autumn 2023 declined by 49.73 per cent to  672,198 as an alternative of  1,337,108 within the prior interval.

It mentioned on an annual foundation, the variety 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 mentioned the income acquired from passengers declined by 2.64 per cent in 2023 from the N4.55b recorded in 2022 to N4.43bn in 2023.

“Nevertheless, the quantity of cargo and income from cargo in 2023 elevated by 102.04 per cent and 144.32 per cent respectively, in contrast with 2022,” the report mentioned.

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