Nigeria Raked in N1.07bn from Rail Passengers in Q4 2023


Nigeria generated a revenue of N1.07 billion from  672,198 passengers that travelled by rail transport in the fourth quarter of 2023.

This figure is however a drop of 7.51 percent in revenue over the N1.15 billion recorded in the corresponding quarter in 2022.

The National Bureau of Statistics  ( NBS) in its Q4 2023 rail transport report released yesterday shows that in terms of volume of goods and cargoes, the country did a lot better during the period moving  119,286 tons of goods/carges compared to 53,136 tons recorded in Q4 2022. 

The report also shows the country ,ade more revenue from rail movement of goods/carges during the period, collecting N423.22 million from goods/cargos conveyed. This figure is up by 169.16 percent from N157.23 million received in Q4 2022. 

NBS said other receipts amounted to N393.72 million, also indicating an increase of 3.02 percent  in Q4 2023 from the N382.17 million collected in Q4 2022.

“However, on an annual basis, the number of passengers in 2023 fell by 32.08 percent compared to the previous year. The revenue received from passengers also declined by 2.64 percent in 2023, while volume of cargo and revenue from cargo rose by 102.04 percent, and 144.32 percent respectively relative to 2022.



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