The Nigerian Railway Corporation (NRC) generated N1.7 billion in revenue from passenger and cargo services during the third quarter (Q3) of 2024, marking a 13.83% increase from the N1.49 billion recorded in the same period in 2023.
This data was released by the National Bureau of Statistics (NBS) in a report on Friday.
According to the NBS, the NRC’s earnings from goods and cargo amounted to N412.57 million in Q3 2024, a significant rise from the N217.6 million recorded in Q3 2023.
The report also indicated that other receipts for the first nine months of 2024 totaled N34.7 million.
Passenger traffic saw a notable increase, with the NRC transporting 743,205 passengers in Q3 2024, up 25.05% from 594,348 passengers in Q3 2023.
Additionally, the volume of goods and cargo transported by rail reached 96,401 tons in Q3 2024, a substantial increase from 69,003 tons in the same quarter of the previous year.
The NBS also reported that the NRC transported 7,320 tons of goods and cargo via pipeline in Q3 2024, a decrease from the 12,960 tons transported in Q3 2023.
Revenue from cargo movement via pipeline stood at N51.85 million, down from N69.18 million in the same period last year.
Other receipts, however, saw a sharp decline of 70.84%, with a total of N34.77 million in Q3 2024 compared to N119.22 million in Q3 2023.
