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.
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