The Nigerian Railway Corporation (NRC) has announced that the total revenue generated from train passengers dropped by N1.48 billion in the second quarter of 2022.
The figure portrays a decline of 71 percent when compared with the first quarter (Q1) of 2022.
The latest NRC data is contained in a new report by the National Bureau of Statistics (NBS), titled ‘Rail Transportation Data Q2 2022’.
According to the report, 422,393 passengers travelled with the rail system in Q2 2022 as against 953,099 passengers recorded in the first quarter of 2022.
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The decrease in the number of passengers also strongly affected the corporation’s revenue generation.
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.
However, analysis of the data showed that the revenue generated from goods/cargos in Q2 2022 increased to was N86.0 million, compared to N71.7 million generated in Q1.
