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The federal authorities income from rail transportation dropped to N5.57 billion in 2022, from N6.03 billion recorded in 2021, the Nationwide Bureau of Statistics (NBS) has revealed.
A quarterly breakdown of the income in keeping with the rail transport report, confirmed {that a} complete of N2.21 billion income was recorded within the first quarter, whereas N734.5 million was recorded within the second quarter of the 12 months 2022.
The whole income recorded within the third quarter was N934, 918,168 and N1,694,079,066 within the final quarter.
However the variety of rail transport passengers within the interval rose by 15 p.c to hit 3,212,948, in comparison with 2,714,458 recorded in 2021. Whereas the whole quantity of products/cargos for the interval was 118,587 in comparison with 142,438 in 2021.
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“When it comes to income era, N2.07 billion was acquired from passengers in Q1 2022, greater by 132.82 p.c relative to N892.46 million within the first quarter of 2021. N71.76 million was collected within the first quarter of 2022 as income from items/cargos, in comparison with N18.89 million within the first quarter of 2021. Different receipts grew by 619.34% within the first quarter of 2022, recorded at N57.92 million from N8.05 million within the first quarter of 2021.
“In Q2 2022, income generated from passengers was N598.73 million, a lower of 44.76 p.c from N1.08 billion in the identical interval 2021. Extra so, income generated from items within the second quarter of 2022 amounted to N86.00 million, greater by 14.34 p.c in comparison with N75.21 million reported within the second quarter of 2021. Different revenue receipts stood at N49.72 million.
“N715.09 million was acquired from passengers in Q3 2022, decrease by 60.52 p.c relative to N1.81 billion in the identical quarter of the earlier 12 months. N101.84 million was collected in Q3 2022 as income from items/ cargos, down by 7.04 p.c from N109.56 million acquired in Q3 2021.
“Additionally, different receipts grew by 707.31 p.c in Q3 2022 from the N14.61 million collected in Q3 2021. In This fall 2022, the variety of passengers rose by 30.10 p.c to 1.34 million individuals from 1.03 million individuals in This fall 2021, whereas the amount of products transported decreased by 1.50 p.c.
“Income generated from passengers stood at N1.15 billion in This fall 2022, a lower of 39.54 p.c from the identical interval final 12 months when N1.91 billion was reported. Extra so, income generated from items in This fall 2022 was N157.23 million, greater by 63.56 p.c in comparison with N96.13 million reported in This fall 2021.
“Different revenue receipts stood at N382.17 million, a rise of three,316.18 p.c from the N11.19 million recorded in the identical interval of the previous 12 months. Nonetheless, on an annual foundation, the variety of passengers elevated by 18.36 p.c,” it said.
The variety of rail transport passengers was 953,099 in Q1, 422,393 in Q2, 500,348 in Q3 and 1,337,108 within the final quarter, whereas a complete of 32,139 tons of products had been transported within the first quarter of 2022, nothing was recorded within the second quarter, 33,312 tons and 53,136 tons had been recorded in third and fourth quarters respectively.
