National Bureau of Statistics (NBS) in its Q4 2023 report highlights a significant decline in rail travel, with 672,198 passengers compared to 1,337,108 in the corresponding quarter of 2022, marking a -49.73% growth rate.
Cargo volume also saw an increase, with 119,286 tons transported in Q4 2023 compared to 53,136 tons in Q4 2022.
In terms of revenue generation, passenger receipts totaled N1.07 billion during the reference period, reflecting a 7.51% decrease from the N1.15 billion recorded in the same quarter of the previous year.
READ ALSO: Rivers: Group Arrests Man for Defiling Underage Boy
Revenue from goods and cargos transported in Q4 2023 amounted to N423.22 million, marking a substantial increase of 169.16% from the N157.23 million collected in Q4 2022.
Additionally, other receipts totaled N393.72 million, showing a 3.02% increase in Q4 2023 from the N382.17 million collected in Q4 2022.
However, on an annual basis, the number of passengers in 2023 declined by 32.08% compared to the previous year.
Revenue from passengers experienced a 2.64% decrease in 2023, while cargo volume and revenue from cargo surged by 102.04% and 144.32% respectively relative to 2022.
