The Nigerian Railway Corporation generated N5.79bn as revenue from its passengers and cargo services between 2019 and the first quarter of 2021, the National Bureau of Statistics has said.
The latest NBS report showed a total number of 4.33 million passengers travelled via the rail system between 2019 and Q1 2021, while 298,063 tonnes of goods/cargo were moved by train within the same period.
It put the revenue generated from passengers within the period under review at N5.05bn, while revenue generated from goods/cargo was given as N670.42m, income from other receipts stood at N77.8m.
A breakdown of the data also showed that the highest revenue generated from passengers was recorded in Q1 2021 with N892.47m, 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 (Q2 2019) recorded the highest revenue from the volume of goods/services transported via train with N131.27m, while the lowest revenue generation from goods was recorded in the last quarter of 2019 with N17.60m.
The report also indicated that the year 2020 (particularly Q2 2020) suffered the biggest losses and turnout of passengers due to the COVID-19 lockdown imposed by the Federal Government in order to curb the spread of the virus in Nigeria.
Rail: Lagos announces three-month traffic diversion at Yaba for red line
The Lagos State Government says it would on October 1 commence a three-month diversion of traffic from Yaba for the first phase of the construction of its red line (railway project).
The state Commissioner for Transportation, Dr Frederic Oladeinde, said the diversion would start at midnight of Friday, 1 October 2021 and end on January 1, 2022.
He said, “Motorists heading to Murtala Muhammed way from Western Avenue are advised to use Empire Road at Jibowu, while Traffic circulating Murtala Muhammed Way and Yaba Bound will be diverted to Empire Road to access Western Avenue.
“In the same vein, motorists on Herbert Macaulay can also use Empire Road to connect Western Avenue to reach their desired destinations.
“We assured that the site will be cordoned off for the safety of the citizenry, while emergency vehicles will be on ground to tow broken down vehicles along the axis.”
According to the commissioner, the three-month long project was to ensure that the project is completed in record time as promised by the Babajide Sanwo-Olu administration.
He stated that visible signs would be placed on the access roads with officials of the Lagos State Traffic Management Authority around to ensure traffic flow and minimise inconveniences.
He stressed the state government’s continuous commitment to the development of transport infrastructure within the metropolis.
Oladeinde maintained that the development was vital for the multi-modal transportation system of the state government for improved economy of the citizens.
Train passengers rise by over 400% in one year, says NBS report
Nigeria has recorded an increase of over 400 per cent in train passengers within a space of one year, a new report by the National Bureau of Statistics has shown.
It also indicated that the Nigerian Railway Corporation generated N2.1 billion as revenue from passengers and cargo traffic in the first half of this year.
Apart from the biting economic lockdown imposed last year to curtail the spread of COVID-19, which adversely affected train service, the commencement of the new Lagos-Ibadan train service apart its inauguration in June this year and the reinvigorated Abuja-Kaduna standard gauge rail line must are seen to have contributed to the NRC’s performance.
The report, titled, ‘Rail Transportation Data Q2’ stated that 565,385 passengers travelled by the rail system in the second quarter of 2021 against 108,238 passengers recorded in the second quarter of 2020 and 424,460 in Q1 2021.
This represents a 422.35 per cent growth year-on-year and 33.20 per cent quarter-on-quarter.
The report also specifically stated that the NRC generated N1.08 billion from passengers in the second quarter of 2021 against N892.47 million in Q1 2021.
Goods or cargo traffic in Q2 2021 fetched N71.56 million against N26.19 million in Q1 2021, while income from other receipts stood at N41 million in the last six months.
A further analysis of the report shows that the corporation recorded its highest revenue from passengers in Q2 2021 with N1.08 billion, while the lowest revenue generation from passengers was recorded in the second quarter of 2020 (Q2 2020), with N320.34 million.
The report showed from all categories that the year 2020 (particularly Q2 2020) suffered the most losses and turnout of passengers due to the COVID-19 lockdown imposed by the Federal Government to curtail the spread of the virus across Nigeria.
In June, the NBS had said the NRC generated N5.79 billion as revenue from passengers and cargo between 2019 and the first quarter of 2021 (Q1 2021).
NRC builds N320m hotel for Lagos-Ibadan train passengers
The Nigerian Railway Corporation has constructed a N320m hotel at its Ebute-Meta station in Lagos.
The Railway Guest House is said to have 40 rooms with a lot of facilities to make travellers’ stopover there a pleasant and memorable stay.
Specifically, the hotel is equipped with a swimming pool, restaurant and meeting hall, among other facilities.
Speaking at the opening on Wednesday, Timothy Zalanga, Managing Director of Railway Property, said the project marked the beginning of a new business strategy for the NRC, focusing on property development rather than leasing of lands.
“This project shows that with the focus of the present regime on Railway Development, many more can be achieved in the overall interest of the general public,” he said.
Zalanga said 60 per cent of the construction cost was funded from replacement costs of some of the NRC structures that were demolished to pave way for the new Lagos – Ibadan standard gauge line to get into Apapa port.
The remaining 40 per cent was funded by Railways Property.
NRC Managing Director, Fidet Okhiria, said that the guest house would be managed by hospitality and lifestyle company, Ojez Group, following a successful bidding process involving over 30 entities.
Managing Director of Ojez Group, Joseph Odobeatu,
said security within the hotel would be provided by the Nigerian police railway command, private security and an internal security team.
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