Nigeria’s railway revenue from passengers down 71% in Q2 2022 amid growing insecurity

The Nigerian Railway Corporation (NRC) has said the total revenue generated from passengers dropped by N1.48 billion in the second quarter (Q2) of 2022.

The figure represents a decline of 71 percent when compared with the first quarter (Q1) of 2022.

The latest NRC data is contained in a new report by the National Bureau of Statistics (NBS), titled ‘Rail Transportation Data Q2 2022’.

The report said 422,393 passengers travelled via the rail system in Q2 2022 as against 953,099 passengers recorded in the first quarter of 2022.

The decrease in the number of passengers also had a strong effect on 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.