Rail transportation records 124.54% YoY increase in patronage in Q1

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BY BAMIDELE FAMOOFO

Uba Group

The rail transportation statistics in the first quarter of 2022 revealed that 953,099 passengers travelled via train relative to 424,460 reported in the corresponding quarter of 2021, representing a growth rate of 124.54 percent.

In addition, 32,139 tons of goods were transported in the first quarter of 2022, compared to 9,071 tons reported in the first quarter of 2021, showing a growth rate of 254.30 percent.

In terms of revenue generation, N2.07 billion was received from passengers over the period, higher by 132.82 percent relative to N892.46 million in the first quarter of 2021. Similarly, N71.76 million was collected in the first quarter of 2022 as revenue from goods/cargos, compared to N18.89 million in the first quarter of 2021. Other receipts grew by 619.34 percent in the first quarter of 2022, recorded at N57.92 million from N8.05 million in the first quarter of 2021. In the second quarter of 2022, passengers declined by 25.29 percent, reported at 422,393 relative to passengers in the second quarter of 2021 which stood at 565,385. Revenue generated from passengers was N598.73 million, a decrease of 44.76 percent from N1.08 billion in the same period last year.

Moreso, revenue generated from goods in the second quarter of 2022 amounted to N86.00 million, higher by 14.34 percent compared to N75.21 million reported in the second quarter of 2021. Other income receipts stood at N49.72 million, an increase of 988.92 percent from the N4.56 million recorded in the same period of the preceding year.