The National Bureau of Statistics (NBS) has reported that between January and June this year, the Federal Government raked in N1.16 billion from the rail transportation system.
The Bureau, in its latest report on the railway sector, stated that the revenue was generated from two sources, namely passenger fares and cargo charges.
Specifically, the official statistics producing and reporting agency disclosed that a total amount of N849.01 million was generated from passengers during the six-month period while cargoes charges raked in about N310.36 million.
A breakdown of the earnings on quarter-by-quarter basis showed that out of the N849.01 million generated from passenger fares N435.96 million was recorded in the first quarter while the balance of N413.05 million was earned in the second quarter.
Similarly, the Bureau reported that from cargo charges, government generated N159.08 million in the first quarter compared to the N151.28 million revenue in the succeeding quarter.
The report clarified further: “Revenue generated from passengers in Q2 2018 was put at N435,965,777 as against N413,057,019 in Q1 2018. Similarly, revenue generated from goods/cargo in Q2 2018 was put at N159,079,963 as against N151,279,394 in Q1 2018.”
A further analysis of the passenger traffic during the period indicated that 748,345 passengers travelled by rail in the first quarter while 730,289 passengers did so in the second quarter.
Similarly, the report showed that 79,750 tonnes of goods/cargoes were lifted through the rail system in the first quarter as against the 85,816 tonnes carried in the second quarter.
