Train in transit
Train in transit Leadership

NRC Generates N287M from Cargo Haulage in Three Months – Report

The National Bureau of Statistics has reported that the Nigerian Railway Corporation (NRC) recorded a revenue of N286.78 million from the transportation of cargo by rail in the third quarter of 2023.

This marked a substantial increase of 181.58 percent compared to the N101.84 million generated in Q3 2022.

According to the latest rail transportation report from the NBS, it stated, "In Q3 2023, N286.78 million was collected from goods/cargo conveyed in Q3 2023, up by 181.58 percent from N101.84 million received in Q3 2022."

The volume of goods and cargo transported during Q3 2023 amounted to 81,963 tonnes, a notable increase from the 33,312 tonnes reported in the corresponding period of the previous year.

The NBS highlighted that the rail system witnessed a growth in passenger traffic, with a total of 594,348 passengers in the specified period compared to 500,348 reported in the corresponding quarter of 2022, reflecting a growth rate of 18.79 percent.

Regarding revenue generation, passengers contributed N1.49 billion during the reference period, indicating a significant increase of 108.25 percent from the N715.09 million recorded in the same quarter of the previous year.

Additionally, other receipts amounted to N119.22 million, marking a slight increase of 1.05 percent in Q3 2023 from the N117.98 million collected in Q3 2022, as reported by the NBS.

In a related development, the NRC announced in early January its plans to initiate night operations before the second quarter of 2024.

Related Stories

No stories found.
Latest Lagos Local News -