The Nigerian Railway Corporation (NRC) recorded a significant revenue increase of 53.14% from passenger transport, rising to N1.69 billion in the second quarter of 2024, up from N1.10 billion during the same period in 2023. This was revealed in the latest data from the National Bureau of Statistics (NBS).
Passenger numbers surged as well, with 689,263 people using rail transport in Q2 2024, a marked increase from 474,117 passengers in Q2 2023.
Goods and cargo transport revenue also experienced a notable rise.
The NRC generated N537.36 million from goods moved by rail in Q2 2024, a 206.68% jump from N175.22 million in Q2 2023.
The volume of goods transported increased to 143,759 tons, up from 56,936 tons during the same period last year.
Revenue from pipeline transport showed similar growth. The NRC reported N42.08 million in revenue from pipeline transport in Q2 2024, compared to N12.81 million in Q2 2023, with the volume of goods transported through pipelines rising to 5,940 tons, compared to 2,856 tons in the previous year.
In addition, miscellaneous revenues for the quarter reached N994.68 million, representing an astonishing rise of over 5,200% from the N18.74 million reported in Q2 2023.
