Nigeria Generates N918m From Rail In 3 Months - THE ENCOUNTER NEWS

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Monday, June 28, 2021

Nigeria Generates N918m From Rail In 3 Months



ABUJA - The National Bureau of Statistics (NBS) has said the country generated N918.66 million through the Nigeria Railway Corporation (NRC) in the first three months of the year as it moved less passengers and lower volume of cargo compared to last year.


Data released by the NBS showed that a total of 424,460 passengers travelled via the rail  system in Q1, 2021 as against 647,055 passengers recorded in Q1, 2020 and 134,817 in Q4, 2020  representing a 34.4 per cent decline year-on-year  and 214.84 per cent growth quarter-on-quarter respectively.

Likewise, a total of 10,511 tons of volume of goods/cargo travelled via the rail system in Q1 2021 as against 18,484 recorded in Q1 2020 and 35,736 in Q4, 2020 representing 43.13 per cent decline YoY and 70.59 per cent decline QoQ respectively.

Revenue generated from passengers in Q1 2021 was put at N892.46 million as against N398.99 million in Q4 2020, while revenue generated from goods/cargo in Q1 2021 was put at N26.195 million as against N82.57 million in Q4 2020.

In total, rail transportation in Nigeria has so far generated N5.79 billion between 2019 and the first three months of 2021. According to the NBS, in 2019, N2.412 billion was generated from passengers, while in 2020, N1.745 billion was generated and in Q1, 2021, N892.46 million was derived.

For goods/cargo, in 2019, N362.88 million was generated; in 2020, the sector derived N281.35 million and in Q1 2021, N26.19 million had been generated. However, for other receipts, N64.57 million was derived in 2019, N5.18 million in 2020 and N8.062 million in Q1, 2021.

The bureau said rail transportation data for Q1 2021 reflected that a total of 10,511 tons of volume of goods/cargo travelled via the rail system in Q1, 2021 as against 18,484 that used the system in Q1 2020 and 35,736 in Q4, 2020 representing -43.13 per cent decline YoY and -70.59 per cent decline QoQ respectively.

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