Business and Economy

Nigerians shifting to Rail Transport as 2023 figures up by 18.79%

The National Bureau of Statistics (NBS) recently released a report on rail transportation data, revealing some promising trends. In Q3 2023, a total of 594,348 passengers opted for train travel, marking an impressive 18.79 percent increase compared to the 500,348 passengers in Q3 2022. Additionally, the volume of goods transported by rail experienced a significant surge of 146 percent, rising from 33,312 tons in Q3 2022 to 81,963 tons in Q3 2023. The revenue generated from both passengers and cargo also saw substantial growth, with a 108.25 percent increase for passengers and an impressive 181.58 percent increase for cargo.

These statistics highlight the growing importance of rail transportation in supply chains and trade. The fact that more people are choosing trains as their preferred mode of travel indicates a positive shift in confidence towards the rail transport system, especially after the unfortunate kidnapping incident in 2022. Moreover, the use of trains helps alleviate road congestion, resulting in smoother traffic flow, reduced travel time, and ultimately contributing to environmental sustainability. Trains are known for their energy efficiency and lower emissions compared to road vehicles.

To meet the increasing demand for rail services, it is crucial to focus on promoting efficiency within the rail transport industry. This can be achieved by streamlining processes, reducing costs, and expanding the existing routes. Additionally, addressing the issue of insecurity is paramount, as it currently discourages passengers from fully embracing rail transportation. At the state level, collaboration between governments can lead to the creation of inter-state rail routes, facilitating the movement of people and goods between states and opening up new opportunities along these routes.

Furthermore, embracing cutting-edge technology and digital solutions in partnership with the commercial sector can greatly enhance ticketing, tracking, and overall consumer satisfaction. By leveraging these advancements, the rail transport industry can further improve its services and cater to the evolving needs of passengers and businesses alike. SOURCE: CSEA AFRICA

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