N4.2bn generated from train services in nine months – NBS

The Nigerian Railway Corporation generated a total sum of N4.19 billion as revenue earned from sales of tickets to passengers, cargo, and other services in the first nine months of 2023.

The figure represents an increase of N290 million or 7 per cent when compared to the N3.90bn accrued to its coffers in the first nine months of 2022.

The National Bureau of Statistics said this in its latest rail transportation data for the third quarter of 2023 released on Wednesday.

According to the report, NRC generated N768.44 million from passengers in the first quarter of 2023, N181.27 million in goods and cargo and N34.17 million in other receipts.

This gives a total of N983.87 million generated in the first quarter of 2023.

In the second quarter of 2023, the corporation saw its revenue climb to N1.31 billion, according to NBS.

The bureau said the growth was driven by a rise in passenger revenue, which reached N1.10 billion.

The NBS report said revenue from goods and cargo also increased, reaching N188.03 million, noting that other receipts brought in an additional N18.74 million.

The corporation’s upward momentum continued in Q3 2023, marking another consecutive quarterly revenue growth.

NBS said passenger revenue hit N1.48 billion, while goods and cargo earned NRC N286.78 million in Q3, adding that other receipts contributed N119.22 million.

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