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NBS: Railway transport services generated N2.1bn revenue in six months

The Nigerian Railway Corporation (NRC) generated N2.1 billion as revenue from passengers and cargo between the first and second quarters of 2021.

This was disclosed by the National Bureau of Statistics (NBS) in its latest report titled: “Rail Transportation Data Q2”.

According to the report, NRC generated N1.08 billion from passengers in Q2 2021 against N892.47 million in Q1 2021. 

Goods and cargo in Q2 2021 generated N71.56 million against N26.19 million in Q1 2021, while income from other receipts stood at N41 million in the last six months.

Further analysis of the report shows that the corporation recorded its highest revenue from passengers in Q2 2021 with N1.08 billion, while the lowest revenue generation from passengers was recorded in the second quarter of 2020 (Q2 2020), with N320.34 million.

It further revealed 565,385 passengers travelled via the rail system in Q2 2021 against 108,238 passengers recorded in Q2 2020 and 424,460 in Q1 2021. 

This represented a 422.35% growth year-on-year (YoY) and 33.20% quarter-on-quarter (QoQ).

From all categories, the year 2020 (particularly Q2 2020) suffered the most losses and turnout of passengers due to the COVID-19 lockdown imposed by the federal government to curtail the spread of the virus across Nigeria.

Recall that the NBS in June had stated that the Nigerian Railway Corporation (NRC) generated N5.79 billion as revenue from passengers and cargo between 2019 and the first quarter of 2021 (Q1 2021).

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