Rail transport revenue rises 8.8% to N6.05bn

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Rail transport recorded an increase of 8.8 per cent, Year-on-Year, YoY to N6.05 billion from N5.56 billion in 2022.

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The National Bureau of Statistic (NBS) disclosed this yesterday in its Rail Transport report for the fourth quarter of 2023 (Q4’23).

The report showed that the revenue generated in 2023 comprised N4.42 billion from passengers, N1.07 billion from goods and cargos and N565.84 million from other income receipts.

The data also showed that the number of cargos\goods transported by rail during the period stood at 317,244 while the number of passengers was 2.18 million.

However, the report showed that in Q4’23, the number of passengers fell by 49.7 percent to 672,198.

The NBS said: “In Q4’23, a total of 672,198 passengers travelled via rail system relative to 1,337,108 reported in the corresponding quarter of 2022, indicating a growth rate of -49.73 percent.

“The volume of goods/cargos transported in Q4’23 stood at 119,286 tons compared to 53,136 tons recorded in Q4’22.

“In terms of revenue generation, N1.07 billion was received from passengers during the reference period, showing a decrease of 7.51 percent from the N1.15 billion recorded in the same quarter of the previous year.

“Similarly, N423.22 million was collected from goods/cargos conveyed in Q4’23, up by 169.16 percent from N157.23 million received in Q4’22.

“In addition, other receipts amounted to N393.72 million, indicating an increase of 3.02 percent in Q4’23 from the N382.17 million collected in Q4’22.

“However, on an annual basis, the number of passengers in 2023 fell by 32.08 percent compared to the previous year.

“The revenue received from passengers declined by 2.64 percent in 2023, while volume of cargo and revenue from cargo rose by 102.04 percent , and 144.32 percent respectively relative to 2022.”


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Gbenga Samson
Gbenga Samsonhttp://ThisDayLive.com
Samson Gbenga Salau [Editorial Board Adviser] Gbenga Samuel Salau is a professional journalist with over 17 years experience in journalism, he is a graduate of Communication and Language Arts, University of Ibadan. On completion of his youth service, he joined The Guardian as a freelance journalist and was later absorbed as a staff. While in the University, he was a campus journalist reporting for the Independence Hall and Faculty of Arts Press Clubs. As a campus journalist, he won the following awards; Independence Hall Press Best News writer; University of Ibadan Union of Campus Journalists’ Best News Reporter/Writer; First Runner-up, Reuben Abati Award for Investigative Journalism; Association of Faculty of Arts Students’ Press Best Reporter; University of Ibadan Union of Campus Journalists’ Best Political Writer; Winner, Reuben Abati Award for Investigative Journalism, and University of Ibadan Union of Campus Journalists’ Best Interviewer. He served the Association of Communication and Language Arts Students, as the Public Relation Officer, the same year he was appointed the News Editor of the Association of Faculty of Arts Students Press. The following session, he was made the General Editor, and a member of the 13-man University of Ibadan Students’ Union Transition Committee. As a reporter in The Guardian, in 2014, he won the Promasidor Quill Award Best Report on Nutrition and DAME Business Reporting category. In the 2015 edition of the Promasidor Quill Award, he won the best Report on Nutrition and Brand Advocate Categories, while in 2016, he won the NMMA Print Journalist of the Year, first runner-up Golden Pen Reporter of the Year and SERAs CSR Awards. Gbenga Salau loves traveling, reading, and listening to songs with good lyrics no matter the genre.

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