Revenue Generation from Rail transport hits N5.79bn-NBS

Rail transportation in Nigeria generated N5.79 billion between 2019 and Quarter One of 2021 (Q1, 2021), the National Bureau of Statistics (NBS) has said.
It said this in the “Rail Transportation Data for Q1 2019 – Q1 2021” obtained from its website on Thursday in Abuja, adding that the revenue was generated from passengers, goods/cargo and other incomes.

Giving a breakdown, it said N918.62 million was generated as revenue in the first quarter of 2021 (Q1, 2021) as against N481.57 million generated in Q4, 2020.
Also, revenue generated from passengers in Q1 2021 was put at N892.46, while N398.99 was generated from passengers in Q4 2020, the report said.
It added that revenue generated from goods/cargo in Q1 2021 was put at N26.19 as against N82.57 in Q4 2020.
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 that rail transportation data for Q1 2021 reflected that 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.