Connect with us

Travel

NRC Revenue Falls by 71% as Passengers Shun Rail Trips Owing to Insecurity 

The total revenue generated by the NRC from passengers dropped by N1.48 billion in the second quarter of 2022.

Published

on

Lagos-Ibadan Train Services - Investors King

Owing to incessant attacks and kidnapping by gunmen on rail lines, a fresh data has shown a significant drop in revenue generated by Nigerian Railway Corporation (NRC).

The document stated that the total revenue generated by the NRC from passengers dropped by N1.48 billion in the second quarter of 2022.

Investors King had reported various attacks on the transportation sector, especially the rail system.

Recall that in March 2022, over 900 people were on board an Abuja-Kaduna train when it was attacked along the route. While some were lucky enough to escape, the majority were killed on the spot or captured.

Economic experts had said this incident would create fear and anxiety in other individuals who may have been eager to try out railway transportation, and it also demonstrates that rail transportation, which was formerly seen to be a safe mode of transit, is now unsafe.

Meanwhile, the NRC data contained in a report by the National Bureau of Statistics, titled: ‘Rail Transportation Data Q2 2022’, revealed that the N1.48 billion loss represents a decline of 71 percent when compared with the first quarter of the year under review.

The report added that 422,393 passengers travelled through the rail system in Q2 2022 as against 953,099 passengers recorded in the first quarter of 2022.

It was discovered that the decrease in the number of passengers also had a severe negative effect on the revenue generation of the corporation.

For instance, the revenue generated from passengers in Q2 2022 was N598, 736,300, while for Q1 2022; the revenue generated was N2, 077, 836,686.

While there was a shortfall in revenue from passengers, the report showed that there was an increase in the revenue generated from goods and cargo.

Analysis of the figure shows that the revenue generated from goods/cargos in Q2 2022 was N86, 007,680, while revenue generated from goods/cargos in Q1 2022 was N71, 769,967.

However, in another report made available by the NBS, the NRC generated N2.41 billion in revenue from passengers in 2019, as official statistics further revealed that passenger income was the most important source of revenue in 2019.

For the same year, revenue from goods or cargo was N362.88 million, while revenue from other income receipts was N64.58 million, totaling N2.84 billion for the year.

In a breakdown of revenue generation, the report showed that as a result of the COVID-19 pandemic’s suspension of many major operations, the revenue generated from these three sectors; passengers, goods or cargo, and other income receipts, declined in 2020.

According to report, a total of N1.75 billion in passenger revenue was generated, which put a decline of 28 percent as against the previous year.

Meanwhile, revenue from goods or cargos fell by 92 percent to N5.19 million, while total revenue from other income receipts fell by 22 percent to N281.35 million.

Rail transportation brought in N2.03 billion at the conclusion of the year, with revenue from passengers contributing the highest income.

Passenger revenue more than quadrupled in 2021 to N5.70 billion, while goods or cargo revenue increased to N317.57 million. Total revenue for the year was a massive N6.08 billion, with revenue from other income receipts amounting to N66.80 million.

Continue Reading
Comments

Travel

Air Peace Flight Makes Emergency Landing Due to False Fire Warning

Published

on

Passengers aboard Air Peace Flight APK7193 experienced a tense moment as the aircraft made an emergency landing at Murtala Muhammed Airport in Lagos following a false fire warning in the cockpit.

The incident, which occurred on Thursday during the flight from Port Harcourt, highlighted the swift response and safety protocols implemented by the flight crew amidst the alarming situation.

With 243 passengers and 12 crew members on board, the flight’s pilots noticed a fire warning indicator in the cockpit, prompting immediate action.

Acting swiftly, the pilots executed all necessary safety measures and initiated an emergency landing procedure.

At 4:45 pm, the aircraft safely touched down on Runway 18L at the Lagos airport, averting a potential crisis.

Upon landing, fire fighting personnel stationed at the airport observed smoke emanating from the engines, prompting the pilots to shut down the engines as a precautionary measure.

However, it was later confirmed that the observed smoke was unrelated to any fire event, reassuring passengers and crew of their safety.

Air Peace promptly issued a statement addressing the incident, titled “Notification of false fire alarm on Port Harcourt-Lagos flight.”

The airline clarified that the fire warning indicator noticed in the cockpit was indeed a false alarm.

The statement emphasized the airline’s commitment to safety and reassured the flying public that all necessary precautions were taken to ensure the well-being of passengers and crew.

“We want to reassure the flying public that safety remains our utmost priority, and we are unwavering in our commitment to it,” the statement read.

Despite the momentary panic caused by the false fire warning, the swift and coordinated response of the flight crew, coupled with adherence to safety protocols, ensured a safe and uneventful landing for all passengers and crew members.

The incident serves as a testament to the importance of rigorous safety procedures and the critical role played by well-trained aviation professionals in ensuring passenger safety.

As investigations into the cause of the false fire warning are likely underway, Air Peace’s response underscores the airline’s dedication to transparency and accountability in addressing safety-related incidents.

Passengers and industry stakeholders alike can take solace in the airline’s commitment to maintaining the highest standards of safety and operational excellence.

Continue Reading

Travel

Saudi Arabia Breaks 70-Year Alcohol Ban, Opening Shop for Diplomats

Published

on

Alcohol

Saudi Arabia has announced the opening of an alcohol shop in Riyadh, breaking a 70-year-long prohibition on the sale of alcoholic beverages in the kingdom.

This decision marks a significant shift in the conservative nation’s stance on alcohol consumption.

The alcohol shop, set to be located in Riyadh’s Diplomatic Quarter, will exclusively serve non-Muslim expatriates, particularly diplomatic staff.

This is the first time since 1952 that alcohol will be legally available for purchase in the kingdom.

The initiative aims to provide a legal avenue for diplomats who have previously relied on importing alcohol in sealed diplomatic pouches.

The decision comes as part of the Saudi government’s efforts to address the issue of illicit alcohol trade within the country.

By offering a legal means to access alcohol, authorities hope to mitigate the risks associated with underground alcohol markets.

However, the shop’s operations will be subject to strict regulations. Only diplomatic staff with prior registration and government clearance will be allowed to purchase alcohol.

Also, patrons must be over 21 years old and adhere to a prescribed code of conduct while inside the shop.

The introduction of the alcohol shop is a part of broader societal reforms under Saudi Arabia’s Vision 2030 initiative, aimed at modernizing and diversifying the kingdom’s economy.

While the move represents a significant departure from traditional norms, it aligns with the government’s broader agenda of liberalizing certain aspects of Saudi society.

While the alcohol shop signifies a progressive step forward, it’s important to note that the sale and consumption of alcohol remain strictly prohibited for Saudi citizens under Islamic law.

Violators of these laws are subject to severe penalties, including fines, and imprisonment.

Overall, the opening of the alcohol shop marks a historic moment in Saudi Arabia’s social and economic landscape, signaling a willingness to adapt to changing global norms while navigating the complexities of religious and cultural traditions.

Continue Reading

Travel

NCAA Suspends Dana Air’s Operations Amid Safety Concerns

Published

on

Dana Air

The Nigerian Civil Aviation Authority (NCAA) has taken decisive action following a recent incident involving Dana Air by suspending the airline’s operations amid escalating safety concerns.

This move comes in the wake of an unsettling event where a Dana Air plane veered off the runway upon landing at Lagos airport.

The incident, which occurred shortly after a flight from Abuja, prompted emergency responders and regulatory agencies to swiftly respond and ensure the safety of all 83 passengers and crew onboard.

While initial reports indicate no injuries, the occurrence raised red flags regarding Dana Air’s operational safety protocols.

In response, NCAA wasted no time in initiating a thorough investigation with the Nigerian Safety Investigation Bureau leading the probe.

However, pending the investigation’s outcome, the regulatory body opted for a precautionary measure by suspending Dana Air’s Air Operator Certificate (AOC) effective April 24, 2024, at 23:59.

The suspension, outlined in a letter signed by Acting Director Chris Najomo, aligns with Section 31(7) of the Civil Aviation Act 2022.

The Minister of Aviation and Aerospace Development, Festus Keyamo, expressed dismay over the incident.

In a letter addressed to NCAA, the Ministry directed the immediate suspension of Dana Air’s fleet until a comprehensive audit could be conducted, covering safety protocols, maintenance procedures, and financial health.

The suspension serves as a stern reminder of the aviation industry’s uncompromising commitment to safety and underscores the need for thorough oversight to safeguard passengers and maintain industry standards.

As stakeholders await further developments, the focus remains on ensuring the highest level of safety and regulatory compliance within Nigeria’s aviation sector.

Continue Reading
Advertisement




Advertisement
Advertisement
Advertisement

Trending