• Wednesday, February 21, 2024
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Passenger, cargo traffic surge as railway corporation generates N1.49bn in Q3 – NBS

Passenger, cargo traffic surge as railway corporation generates N1.49bn in Q3 – NBS

A total of 594,348 passengers travelled via the rail system in quarter three of 2023, compared to 500,348 passengers reported in the corresponding quarter of 2022, the National Bureau of Statistics (NBS) said on Wednesday.

NBS’ Rail Transportation Data of Q3, 2023 released on Wednesday revealed that the increase represents a growth rate of 18.79 percent compared to that of the same period in 2022.

According to NBS, the volume of goods and cargo transported in quarter three of 2023 stood at 81,963 tons, compared to 33,312 tons recorded in quarter three of 2022.

In terms of revenue generation, the report disclosed that the Nigerian Railway Corporation (NRC) generated N1.49 billion from passengers during the reference period, showing an increase of 108.25 percent from the N715.09 million recorded in the same quarter of the previous year.

“Similarly, a total of N286.78 million was collected from goods and cargo conveyed in quarter three of 2023, up by 181.58 percent from N101.84 million received in quarter three of 2022. In addition, other receipts amounted to N119.22 million, indicating an increase of 1.05 percent in the period under review 2023 from the N117.98 million collected the same period in 2022,” NBS stated.