The Nigerian Railway Corporation (NRC) generated N286.78 million from cargo transportation by rail in the third quarter of 2023, marking a substantial increase of 181.58% compared to N101.84 million in the same period of 2022.
This information was disclosed in the latest rail transportation report by the National Bureau of Statistics (NBS).
The report highlighted that the volume of goods and cargo transported during Q3 2023 reached 81,963 tonnes, a significant rise from the 33,312 tonnes recorded in the corresponding quarter of the previous year.
Furthermore, the NBS revealed that 594,348 passengers utilized the rail system during the quarter, showing a growth rate of 18.79% compared to the 500,348 passengers reported in Q3 2022.
In terms of revenue generated from passenger services, the NRC received N1.49 billion in Q3 2023, representing a noteworthy increase of 108.25% from the N715.09 million recorded in the same quarter of the previous year.
Additionally, other receipts from various sources amounted to N119.22 million, indicating a marginal increase of 1.05% in Q3 2023 compared to the N117.98 million collected in Q3 2022, as reported by the NBS.
Earlier in January, the NRC had announced plans to launch night operations before the second quarter of 2024, signaling efforts to enhance rail services and contribute to the nation’s transportation infrastructure.
