NRC generated N1.07bn in fourth quarter of 2023 – NBS

The National Bureau of Statistics says the Nigerian Railway Corporation generated N1.07 billion as revenue from passengers in Q4 of 2023.

It is contained in the NBS Rail Transportation Data for Q4 2023 released in Abuja on Monday.

According to the News Agency of Nigeria, the report showed a decrease of 7.51 per cent compared to the N1.15 billion generated in Q4 of 2022.

It further explained that the revenue from goods/cargoes swelled by 169.16 per cent to N423.22 million from N157.23 million generated in the same period of the previous year.

Other receipts, according to the data grew by 3.02 per cent from the N382.17 million recorded in Q4 2022 to N393.72 million recorded in Q4 2023.

According to the report, “the number of rail transport passengers in Q4 2023 declined by 49.73 per cent to 672,198 instead of 1,337,108 in the prior period.”

It explained that 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, saying that the revenue received from passengers declined by 2.64 per cent in 2023 from the N4.55 billion recorded in 2022 to N4.43 billion in 2023.

The National Bureau of Statistics stated that the volume of cargo and revenue from cargo in 2023 increased by 102.04 per cent and 144.32 per cent respectively, compared with 2022.

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