NRC services revenue jumps to N1.08bn in Q2 2021, NBS reports

The Nigerian Railway Corporation (NRC) generated N1.08 billion revenue from passenger services and cargo operations in the second quarter of 2021, the National Bureau of Statistics (NBS) disclosed in its recent report, titled “Rail Transportation Data Q2.”

According to the Abuja-based statistics bureau, the NRC recorded its highest revenue from passengers in Q2 2021 at N1.08 billion against N892.47 million in Q1 2021, while revenue from NRC goods and cargo in Q2 2021 stood at N71.56 million against N26.19 million in Q1 2021.

A further analysis of the numbers showed a 237 percent year-on-year (YoY) rise in revenue against N320.3 million generated in Q2 2020. The report also showed that revenue generated from cargo was 8.0 percent higher at N71.56 million in Q2 2021 from N66.3 million in Q2’20, reflecting a sharp growth in the railway sector.

The rail transportation data further disclosed that a total of 565,385 passengers travelled via the rail system in Q2 2021 as against 108,238 passengers recorded in Q2 2020, representing 422 percent YoY growth and a 33.20 percent quarterly growth.

A total of 42,782 tonnes of goods/cargo travelled via the rail system in Q2 2021 as against 8,691 tonnes recorded in Q2 2020 and 10,511 in Q1 2021, reflecting 392 percent YoY growth and 307 percent quarterly growth.

NBS noted that the railway sector generated its lowest turnout in 2020 as a result of the covid-19 lockdown imposed by the government to curtail the spread of the virus, which led to a sharp decline in rail transport services across the country.