Nigerians Paid N6.08bn For Train Services In 12 Months—-NBS

Nigerians paid the sum of N6.08bn for train services in the 2021 fiscal period, data released by the National Bureau of statistics has revealed.

The figure, when compared to the N2.03bn generated in 2020 showed an increase in federal government revenue from railway transport services by 199 percent in one year.

According to the report, NRC generated N5.70bn from passengers in 2021 against N1.75 billion in 2020.

Goods and cargo in 2021 generated N317.57m against N281.35 million in 2020, while income from other receipts stood at N66.8m in 2021, higher than the N5.19m recorded in the preceding year.
Further analysis by showed that the corporation recorded its highest revenue from passengers in Q4 2021 with N1.91bn, while it recorded the lowest in the second quarter of 2020 with N320.34m.

It further revealed that 2.71 million passengers travelled via the rail system in 2021 against 1.02 million passengers recorded in 2020, representing a 166 percent increase.

A total of 168,301 tons of goods were also transported in 2021 compared to 87,440 recorded in 2020, showing a growth rate of 92.48 percent.

Among all categories in the report, the year 2020 particularly the second quarter 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, the report added.