AGS NEWS – The National Bureau of Statistics (NBS) has revealed that the Nigerian Railway Corporation (NRC) amassed N1.07 billion in passenger revenue during the fourth quarter of 2023.

The NBS Rail Transportation Data for Q4 2023, released in Abuja on Monday, disclosed this information.

Compared to the N1.15 billion generated in the same period of 2022, this represents a 7.51% decrease.

Revenue from goods and cargoes saw a significant surge, climbing by 169.16% to N423.22 million from N157.23 million in the previous year’s Q4.

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Additionally, other receipts experienced a 3.02% increase, rising from N382.17 million in Q4 2022 to N393.72 million in Q4 2023.

However, the number of rail transport passengers dwindled by 49.73%, totaling 672,198 individuals compared to 1,337,108 in the preceding period.

On an annual basis, there was a 32.08% decrease in the number of rail transport passengers, dropping from 3,212,948 in 2022 to 2,182,388 in 2023.

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Despite this decline, cargo volume and revenue both exhibited substantial growth, increasing by 102.04% and 144.32% respectively compared to 2022.