NBS: NRC recorded N3.1bn revenue, transported 1.4m passengers in six months

The National Bureau of Statistics (NBS) says the Nigerian Railway Corporation (NRC) transported 1.4 million passengers and generated N3.11 billion in revenue in the first half of 2024.

The figures, representing the corporation’s revenue performance for the period, were published in the bureau’s latest rail transportation report on Thursday.

According to the report, the half-year revenue marked a 66 percent increase — a substantial improvement compared to the N1.87 billion generated in the same period in 2023.

A breakdown of NRC’s performance revealed that in the first quarter (Q1) of 2024, 675,293 passengers travelled via the railway system, contributing N1.42 billion in revenue.

A similar number of passengers was recorded in the second quarter (Q2), leading to about N1.69 billion in revenue, the NBS said.

‘CARGO TRANSPORT REVENUE SURGED BY 221%’

In addition to the rise in passenger traffic, the bureau said the NRC moved 304,409 tonnes of goods and cargo in the first six months of the year, generating N1.14 billion in revenue.

The result was a 221 percent increase relative to the N356.49 million recorded in the same period last year.

The report further highlights that 13,940 tonnes of goods were transported via pipelines, a significant jump from the 2,856 tonnes moved in the first half of 2023.

The data body said revenue from pipeline operations also surged to N101.21 million during the period under review, up from N12.81 million in the corresponding period of the previous year.

Additionally, the NRC was said to have recorded N1.02 billion in revenue from other income receipts, a significant increase compared to the N52.91 million generated in 2023.