Nigeria’s revenue from passenger rail transport rises by 53.14% to hit N1.69bn – NBS

Nigeria’s revenue from Nigerian Railway Corporation on passenger transportation grew by 53.14 percent to hit N1.69 billion in the second quarter of 2024, compared to the N1.10bn recorded in the corresponding quarter last year.

The National Bureau of Statistics disclosed this in its rail transportation data for Q2, 2024.

In Q2, 2024 a total of 689,263 passengers travelled via rail system, relative to 474,117 reported in the corresponding quarter of 2023.

Similarly, N537.36 million was collected from goods/cargo conveyed via rail in Q2 2024, up by 206.68 percent from N175.22 million received in Q2 2023.

In addition, revenue generated from the movement of goods/cargo via pipeline stood at N42.08 million in Q2 2024, higher than the N12.81 million reported in the corresponding period of last year.

The volume of goods/cargo transported via rail in Q2 2024 stood at 143,759 tons compared to 56,936 tons recorded in Q2 2023.

In the quarter under review, the Nigerian Railway Corporation (NRC) reported an additional volume of goods/cargo transported via pipeline, which stood at 5,940 tons, higher than 2,856 tons in Q2 2023.

In addition, revenue generated from the movement of goods/cargo via pipeline stood at N42.08 million in Q2 2024, higher than the N12.81 million reported in the corresponding period of last year.

Other receipts amounted to N994.68 million, indicating an increase of 5,206.68 percent in Q2 2024 from the N18.74 million received in Q2 2023.

Nigeria’s revenue from passenger rail transport rises by 53.14% to hit N1.69bn – NBS