Railway corporation generates N768.44m in Q1 2023- NBS


By Okeoghene Akubuike

The National Bureau of Statistics (NBS) says the Nigerian Railway Corporation generated N768.44 million in revenue from passengers in Q1 of 2023.

This is contained in the NBS Rail Transportation Data for Q1 2023 released in Abuja on Wednesday.

The report showed that the figure dropped by 63.02 per cent compared to the N2.08 billion received in Q1 of 2022.

It showed that N181.27 million was collected in Q1 2023 as revenue from goods/cargos, this rose by 99.28 per cent from N90.96 million received in Q1 2022.

The report stated that other receipts amounted to N34.17 million, showing a decline of 41.02 per cent in Q1 2023, from the N57.92 million collected in Q1 2022.

The report further showed that the number of rail transport passengers in Q1 2023 dropped by 511,374.

“This is lower than the 953,099 recorded in Q1 2022, representing a growth rate of -53.65 per cent.”

In addition, the report showed that 59,966 tons of goods were transported in Q1 2023, compared to 39,379 tons reported in Q1 2022. (NAN)