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Nigeria’s Railway Passengers’ Revenue Plummets by 71%

Passengers board a light rail train of Nigerian Railway Corporation at Oshodi Terminal in Lagos, on September 23, 2016. / AFP PHOTO / PIUS UTOMI EKPEI

According to the Nigerian Railway Corporation (NRC), passenger-related income fell by N1.48 billion in the second quarter (Q2) of 2022.

When compared to the first quarter (Q1) of 2022, the data shows a decline of 71%.

The National Bureau of Statistics (NBS) has released a new report titled “Rail Transportation Data Q2 2022” that includes the most recent NRC data.

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According to the report, 422,393 persons used the train system in Q2 2022, as opposed to the 953,099 passengers registered in the first quarter of 2022.

The fall in passenger numbers had a major impact on the company’s capacity to earn revenue.

In Q2 2022, N598,736,300 in income was earned from passengers, compared to N2,077,836.876 in Q1 2022.

While there was a decrease in revenue from passengers, the report shows that there was an increase in the revenue generated from goods and cargo.

Analysis of the Index shows that the revenue generated from goods/cargos in Q2 2022 was N86,007,680, while revenue generated from goods/cargos in Q1 2022 was N71,769,967.

Recall that in March, the NRC suspended its Abuja-Kaduna train operations after gunmen planted explosives on the rail track and attacked passengers.

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Written by PH

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