Ever since the launch of the Nigerian Railway Corporation (NRC) upgraded their trains, new standard gauge rail and resumed their operations and some of its services have been enjoyed by Nigerians. However, in the first quarter of 2023, the number of passengers dropped by 63.02%.
Taking the train from one city to another, enjoying the cozy services, train, and traffic-free ride.
Although the NRC had some glitches such as the Abuja-Kaduna incident which cost the firm a great loss, faulty trains, insecurity, and a reduced number of trips due to the hike in diesel price in September 2022.
Factors that could have affected the number of passengers in Q1 2023 include; scarcity of cash, insecurity, and limited movement during the general elections.
According to a report obtained by BizWatch Nigeria, the National Bureau of Statistics (NBS) stated that the railway corporation’s overall revenue dropped by ₦1.31 billion in 2023 Q1.
The statistic reflects a 63.02 percent decrease from the same quarter in 2022. The most recent NRC data is included in a new NBS report titled “Rail Transportation Data Q1, 2023.”
According to the data, 441,725 passengers used the rail system in Q1 2023, compared to 953,099 in the same quarter in the previous year 2022.
| Q1 2023 | Q1 2022 | Difference (%) | |
| Passengers | 441,725 | 953,099 | 53.65 |
| Revenue | ₦768.44 million | ₦2.08 billion | 63.02 |
“The rail transportation data for Q1 2023 showed that a total of 441,725 passengers traveled via the rail system in Q1 2023, lower than the 953,099 reported in the corresponding quarter of 2022, representing a growth rate of -53.65%,” NBS revealed via the data.
In terms of products moved the nation recorded 59,966 tons transported in Q1 2023, compared to 39,379 tons reported in Q1 2022.
“In terms of revenue generation, ₦768.44 million was received from passengers over the period, lower by 63.02% relative to ₦2.08 billion in the same quarter of the previous year.
“Similarly, ₦181.27 million was collected in Q1 2023 as revenue from goods/cargos, up by 99.28% from ₦90.96 million received in Q1 2022.
“In addition, other receipts amounted to ₦34.17 million, indicating a decline of 41.02% in Q1 2023, from the ₦57.92 million collected in Q1 2022.”
The data show wins and losses for the railway corporation, while the number of passengers and revenue it derives reduced, the revenue for cargo increased by 99.28%.
