Railway transport service revenue hits N5.7bn in two years

Chinazor Megbolu

The Nigerian Bureau of Statistics (NBS) has said the Nigerian Railway Corporation (NRC) transport service in the country generated a revenue of N5.79 billion in two years.

According to the NBS Rail Transportation Data (Q1 2019- Q1 2021), the revenue wss generated from passengers and cargo between 2019 and 2021.

The report also noted that within the period of review, revenue from passengers was N5.05 billion, while revenue from goods/cargo was N670.42 million, while income from other receipts stood at N77.8 million.

However, the data showed that the highest revenue generated from passengers was recorded in Q1 2021 with N892.47 million, while the lowest revenue generation from passengers was recorded in the second quarter of 2020 (Q2 2020) with N320.34 million.

The second quarter of 2019 generated the highest revenue from the volume of goods/services transported via train with N131.27 million, while the lowest revenue generation from goods was recorded in the last quarter of 2019 with N17.60 million.

The report further revealed that year Q2 of 2020 recorded most losses and low turnout of passengers due to the Covid-19 lockdown imposed by the federal government in an effort to curtail the spread of the virus throughout the country.

It however, pointed out that a total number of 4.33 million passengers travelled via the rail system between 2019 and Q1 2021, while 298,063 tons of volume of goods/cargo travelled via train within same period under review