NRC Generates N1.70bn in Q3

The Nigerian Railway Corporation (NRC) generated N1.70bn from passengers in the third quarter of 2024, an increase of 13.83% from the N1.49bn billion recorded in the same period last year.

A report by the National Bureau of Statistics (NBS) said the money was collected from the 743,205 passengers that travelled via rail system, a 25.05 per cent increase from the 594,348 reported in the corresponding quarter of 2023.

The report added that the corporation made N412.57m from goods/cargo conveyed via rail, up by 89.60 per cent from N217.60m received in Q3 2023.

In addition, revenue generated from the movement of goods/cargo via pipeline stood at N51.85m in Q3 2024, lower than the N69.18m reported in the corresponding period of last year.

Other receipts amounted to N34.77m, indicating a decrease of 70.84 percent in Q3 2024 from the N119.22m received in Q3 2023.

“The volume of goods/cargo transported via rail in Q3 2024 stood at 96,401 tons compared to 69,003 tons recorded in Q3 2023. In the quarter under review, the Nigerian Railway Corporation (NRC) reported an additional volume of goods/cargo transported via pipeline which stood at 7,320 tons, lower than 12,960 tons in Q3 2023.”