Between 2019 and the first quarter of 2021, the Nigerian Railway Corporation (NRC) earned N5.79 billion in revenue from passengers and cargo (Q1 2021).
This was revealed in the National Bureau of Statistics’ (NBS) most recent report, titled “Rail Transportation Data (Q1 2019 – Q1 2021).”
According to the report, revenue from passengers was N5.05 billion during the review period, revenue from goods/cargo was N670.42 million, and revenue from other receipts was N77.8 million.
The highest revenue generated by passengers, according to the data, was N892.47 million in Q1 2021, while the lowest revenue generation occurred in Q4 2021.
According to the data, the highest revenue generated from passengers was N892.47 million in Q1 2021, while the lowest revenue generation from passengers was N320.34 million in the second quarter of 2020 (Q2 2020).
Meanwhile, the second quarter of 2019 (Q2 2019) generated the most revenue from the volume of goods/services transported by train, with N131.27 million, while the last quarter of 2019 generated the least revenue from goods, with N17.60 million.
The year 2020 (particularly Q2 2020) suffered the most losses and passenger turnout among all categories in the report due to the COVID-19 lockdown imposed by the federal government in an effort to curb the virus’s spread across Nigeria.
Between 2019 and Q1 2021, a total of 4.33 million passengers traveled by train, while 298,063 tons of goods/cargo traveled by train during the same time period.