Nigerian Railway Generates N1.42B From Passengers In Q1 2024

Posted by African Examiner Business News, Featured, Latest Headlines Monday, July 1st, 2024

(AFRICAN EXAMINER) – The Nigerian Railway Corporation generated N1.42 billion as revenue from passengers in Q1 of 2024, the National Bureau of Statistics (NBS) has said.

This is contained in the NBS Rail Transportation Data for Q1 2024 released in Abuja on Monday.

The report showed that the figure increased by 84.91 per cent compared with the N768.44 million generated in Q1 of 2023.

Similarly, it showed that N607.32 million was collected in Q1 2024 as revenue from goods/ cargos, this increased by 235.03 per cent from N181.27 million received in Q1 2023.

“Other receipts declined by 25.65 per cent from the N34.17 million recorded in Q1 2023 to N25.40 million recorded in Q4 2023.

The report said that the number of rail transport passengers in Q1 2024 stood at 675,293.

“This is higher than the 441,725 recorded in Q1 2023, representing a growth rate of 52.88 per cent. ”

The NBS said the volume of goods/cargo transported via rail in Q1 2024 stood at 160,650 tonnes compared to 59,966 tonnes recorded in Q1 2023.

The report said the corporation reported an additional volume of goods/cargo transported via pipeline which stood at 8,000 tons.

“In addition, revenue generated from the movement of goods/cargo via pipeline stood at N59.14 million in Q1 2024,” the report said. (NAN)