2023: FG nets N1.491bn revenue from rail passengers, goods/cargos in 4th quarter  

 

The federal government generated revenue of N1.491 billion from passengers and conveying goods/cargos through the nation’s rail transport system in the fourth quarter of 2023.

The amount represents a drop of N284.846 million or 16.04 per cent compared with N1.775 billion generated in the third quarter of the same year.

The Nigeria Railway Corporation report released by 

Nigeria Bureau of Statistics (NBS) showed that a total revenue of N1.067 billion received from passengers while the balance of N423.215 million collected through goods and cargos.

However, the amount generated from passengers during the reference period, showed a decrease of 7.51 per cent compared with N1.15 billion recorded in the same quarter of the previous year.

The report also revealed that the amount collected through conveying goods/ cargos up by 47.58 per cent against N286.775 million recorded in the preceding quarter and an.increase of 169.16 per cent from N157.233 million received in the fourth quarter of 2022.

In addition, other receipts amounted to N393.72 million, indicating an increase of 3.02 per cent  in received in the fourth quarter of 2023 from the N382.17 million collected in the same period of 2022.