• Wednesday, May 29, 2024
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BusinessDay

Rail transport generates N6bn

Rail transport generates N6bn

The total revenue generated from Nigeria’s railway transport system stood at N6.07 billion in 2023. This is an 8.5 percent increase from N5.5 billion recorded in 2022.

According to the National Bureau of Statistics (NBS) report on ‘rail transport data’, a total of N4.42 billion was generated from passengers in the period, N1.07 billion from goods/cargo and other income receipts stood at N565 million.

A quarterly breakdown of the revenue showed that in the first quarter of the year, revenue from passengers was N768 million, revenue from goods/cargo was N181 million and other income at N34 million.

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In the second quarter, N1.1 billion was generated from passengers, N188 million from goods/cargo and N18 million from other income sources.

For the third and fourth quarters of the year, revenue from passengers stood at N1.48 billion and N1.06 billion, revenue from goods/cargo was at N286 million and 423 million while revenues from other receipts stood at N119 million and N393 million respectively.

The total number of passengers for the year was 2,182,388 compared to 3,212,948 in 2022, while the volume of goods/cargo was 317,244 tonnes compared to 157,024 tonnes in 2022.