The Nigerian Railway Corporation (NRC) recorded about 72 percent loss of revenue in the second quarter of 2022, data obtained from the National Bureau of Statistics (NBS) has revealed.
The data, published on its verified website, said while 953,099 passengers used the railway in the first quarter of 2022, the number of railway passengers recorded in the second quarter was 422,393.
The Nigerian Railway Corporation has continued to record a massive drop in patronage since the deadly terrorist attack on the Kaduna bound AK9 standard Guage train of March 28, 2022, which left eight people dead
The over 100 others who were abducted by the attackers only obtained their freedom last month after over 100 days in hostage.
The Nigerian Railway Corporation also suffered huge losses on cargo movement as it recorded zero ton of cargo in the second quarter of 2022, compared to the 32,139 tons of cargo lifted in the first quarter of the year.
The sharp decline in passenger and cargo movement reflected a slur in revenue as the corporation posted N598,736,300 revenue in the second quarter of the year, compared to the N2,077,836,686 in the first quarter of 2022.