Nigeria’s Railway Earnings In Six Months

According to the National Bureau of Statistics, The Nigerian Rail transportation system has recorded a total number of N1.16 Billion between January and June this year.

According to the figure obtained, the Federal Government has generated the sum total of N1.16 Billion from two main revenue sources listed as;

 

From passengers of which a total of N894.01 Million was generated within the period and

From Cargoes of which a total amount of N310.36 Million was generated.

A further analysis on the revenue showed that the sum of N894.01 Million was earned from passengers in the first quarter of the year and the balance of N413.05 Million was generated in the second quarter.

In the Cargo transportation sector, report showed that the  Federal Government earned the sum revenue of N159.08 Million in the first quarter of the year while a total revenue of N151.28 Million was earned in the second quarter.

 

Report also showed that the Revenue generated from passengers in the second quarter was put at N435,965,777 as against the N413,057,019 in the first quarter.

Likewise, revenue generated  from Cargoes read N159,079,963 in the second quarter as against  N151,279,394 in the first quarter of 2018.

 

 

It was also recorded that a taotal number of 730,289 passengers travelled through the rail system in the Q2 as against the recorded number of 748,345 passengers in the Qi of the year. Which amounted to a decrease of 2.41 percent in period under review.

The transport system has also recorded a total of 85,816 tonnes of cargoes/goods transported through the route in the second quarter as against a record of 79,750 in the first quarter.

The Minister of Transportation, Rotimi Amaechi has said the Federal Government has subsidized railway transportation and this action has made the Government to lose about N40 Million in its revenue generation monthly.

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