The National Bureau of Statistics (NBS) said on Friday revenue from railway passengers and cargo rose to N1.70 billion in the third quarter of this year.
This represents a 13.83 percent increase when compared to the N1.49 billion recorded in the same quarter of the previous year.
In its Rail Transport Q3 2024 Report, the NBS said the Nigeria Railway Corporation (NRC) generated N412.5 billion from goods and cargo in the quarter reviewed compared to the N217.6 million recorded in the same period last year.
It noted that income from other receipts stood at N34.7 million in the last nine months.
Further analysis of the report showed that the corporation recorded 743,205 passengers in Q3 2024 — up by 25.05 percent to 594,348 reported in the corresponding quarter of 2023.
In terms of volume, the NBS said 96,401 tons of goods and cargo were transported via rail in Q3 2024, compared to 69,003 tons recorded in Q3 2023.
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The report read: “In Q3 2024, a total of 743,205 passengers travelled via rail system relative to 594,348 reported in the corresponding quarter of 2023, indicating a growth rate of 25.05%. The volume of goods/cargo transported via rail in Q3 2024 stood at 96,401 tons compared to 69,003 tons recorded in Q3 2023.
“In the quarter under review, the Nigerian Railway Corporation (NRC) reported an additional volume of goods/cargo transported via pipeline which stood at 7,320 tons, lower than 12,960 tons in Q3 2023.
“In terms of revenue generation, N1.70 billion was received from passengers during the reference period, showing an increase of 13.83% from the N1.49 billion recorded in the same quarter of the previous year. Similarly, N412.57 million was collected from goods/cargo conveyed via rail in Q3 2024, up by 89.60% from N217.60 million received in Q3 2023.
“In addition, revenue generated from the movement of goods/cargo via pipeline stood at N51.85 million in Q3 2024, lower than the N69.18 million reported in the corresponding period of last year. Other receipts amounted to N34.77 million, indicating a decrease of 70.84% in Q3 2024 from the N119.22 million received in Q3 2023.”
By: Babajide Okeowo
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