The Nigerian Railway Corporation (NRC) recorded a 13.83% increase in revenue, generating N1.7 billion from passengers and cargo in the third quarter (Q3) of 2024, according to the latest report by the National Bureau of Statistics (NBS)
The report, released on Friday, showed that the revenue was a notable rise compared to the N1.49 billion recorded in the same period last year.
A significant portion of the earnings came from goods and cargo transportation, which generated N412.57 million, a 142% increase from N217.6 million in Q3 2023.
However, other receipts dropped sharply by 70.84% to N34.7 million, compared to N119.22 million in the same quarter last year.
The NBS report revealed that 96,401 tons of goods and cargo were transported by rail in Q3 2024, representing a 39.7% rise from the 69,003 tons recorded in Q3 2023.
However, the volume of goods transported via pipeline decreased, with 7,320 tons moved in Q3 2024, down from 12,960 tons in the corresponding period of 2023.
Revenue from pipeline transportation also dropped to N51.85 million, compared to N69.18 million last year.
Meanwhile, rail passenger traffic stood at 743,205 in Q3 2024, an increase of 25.05% from 594,348 in Q3 2023.
Despite this quarterly growth, the NRC noted a 32% annual decline in passenger traffic compared to the figures recorded for the entirety of 2023.
To address growing transportation demands during the festive period, the NRC has announced plans for special train services.
Yakub Mahmood, the commission’s spokesperson, disclosed on December 3 that the initiative aligns with the federal government’s directive to enhance mobility for citizens during the holidays.
Mahmood said the details of the services, including the commencement date, will be made public in due course.
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