The revenue of the Nigerian Railway Corporation (NRC) for the first quarter of 2023 slumped by 63.02 per cent.
This is even as the Corporation saw an increase in its revenue for goods and Cargoes carriage by 99.28 per cent within the period under study.
According to rail transportation data released by the National Bureau of Statistics (NBS) on Wednesday, “The rail transportation data for Q1 2023 showed that a total of 441,725 passengers travelled via the rail system in Q1 2023, lower than the 953,099 reported in the corresponding quarter of 2022, representing a growth rate of -53.65%.
“In addition, 59,966 tons of goods were transported in Q1 2023, compared to 39,379 tons reported in Q1 2022.
“In terms of revenue generation, N768.44 million was received from passengers over the period, lower by 63.02 per cent relative to N2.08 billion in the same quarter of the previous year.
“Similarly, N181.27 million was collected in Q1 2023 as revenue from goods/cargos, up by 99.28% from N90.96 million received in Q1 2022.
“In addition, other receipts amounted to N34.17 million, indicating a decline of 41.02% in Q1 2023, from the N57.92 million collected in Q1 2022.”
READ ALSO FROM NIGERIAN TRIBUNE
and then