The National Bureau of Statistics (NBS) has revealed that the total revenue generated from passengers by the Nigerian Railway Corporation (NRC) dropped by N1.48 billion in the second quarter (Q2) of 2022.
The amount represents a decline of 71 per cent compared with what was recorded in the first quarter (Q1) of 2022.
In a new report titled ‘Rail Transportation Data Q2 2022,’ the NBS said 422,393 passengers travelled via the rail system in Q2 2022 as against 953,099 passengers recorded in the first quarter of the same year, thereby affecting the revenue generation of the corporation.
The revenue generated from passengers in Q2 2022 was N598,736,300, while for Q1 2022, the revenue generated was N2,077, 836,686.
While there was a decrease in revenue from passengers, the report shows that there was an increase in the revenue generated from goods and cargo.
The report further indicated that the revenue generated from goods/cargo in Q2 2022 was N86,007,680, while revenue generated from goods/cargo in Q1 2022 was N71,769,967.
Among all categories in the report, the year 2020 (particularly Q2 2020) 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.
