Nigeria’s revenue from rail transport rises by 84.9% to N1.42bn in Q1 2024

Revenue generated from passengers by the Nigerian Railway Corporation, NRC, increased by 84.91 per cent to N1.42 billion in the first quarter of 2024 from N768.44 million recorded same period last year.

This is according to the National Bureau of Statistics’ latest Rail Transportation data released on Monday.

The report showed that in the referenced period a total of 675,293 passengers traveled via rail system, relative to 441,725 reported in the corresponding quarter of 2023, indicating a growth rate of 52.88 per cent.

Also, the volume of goods/cargo transported via rail in Q1 2024 stood at 160,650 tons compared to 59,966 tons recorded in Q1 2023.

In the quarter under review, the NRC reported an additional volume of goods/cargo transported via pipeline which stood at 8,000 tons.

Similarly, N607.32 million was collected from goods/ cargo conveyed via rail in Q1 2024, up by 235.03 per cent from N181.27 million received in Q1 2023.

In addition, revenue generated from the movement of goods/cargo via pipeline stood at N59.14 million in Q1 2024.

Credit Gist New Today News in Newspaper Nigeria Headlines
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