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Nigeria’s Revenue From Train Services Increased By 199% To ₦6.1bn In One Year

Nigeria’s Revenue From Train Services Increased By 199% To ₦6.1bn In One Year

The Nigerian Railway Corporation (NRC) says it generated N6.08 billion income from passengers, cargo and different providers in 2021.

The National Bureau of Statistics (NBS) stated this in its newest rail transportation information for 2021.

The determine, in comparison with that of 2020 (N2.03 billion), exhibits a rise in federal authorities income from railway transport providers by 199 p.c in a single 12 months.

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

Goods and cargo in 2021 generated N317.57 million, towards N281.35 million in 2020, whereas revenue from different receipts stood at N66.80 million in 2021, increased than the N5.19 million recorded within the previous 12 months.

Further evaluation by TheCable Index confirmed that the company recorded its highest income from passengers in This fall 2021 with N1.91 billion and the bottom recorded within the second quarter of 2020 with N320.34 million.

It additional revealed that 2.71 million passengers travelled by way of the rail system in 2021 towards 1.02 million passengers recorded in 2020, representing a 166 p.c improve.

A complete of 168,301 tons of products have been additionally transported in 2021 in comparison with 87,440 recorded in 2020, exhibiting a progress charge of 92.48 p.c.

Among all classes within the report, the 12 months 2020 (notably Q2 2020) suffered probably the most losses and turnout of passengers as a result of COVID-19 lockdown imposed by the federal authorities to curtail the unfold of the virus throughout Nigeria, the report added.

Rotimi Amaechi, former minister of transportation, had stated that the Abuja-Kaduna prepare service generates no less than N300 million each month.

Source:- Leadership Ng

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