The Nigerian Railway Corporation (MRC) generated N1.08 billion revenue from the movement of passengers in the second quarter of the year (Q2’21`).
This figure, according to the National Bureau of Statistics( NBS), represents a 237 per cent year-on year (YoY) rise in revenue, compared with N320.3 million that was generated in Q2’20.
The NBS made the disclosure in its Railway Transportation Data Report for Q2’21.
The data also showed that revenue generated from cargo rose YoY by 8.0 per cent to N71.6 million in Q2’21 from N66.3 million in Q2’20.
The report stated: “Revenue generated from passengers in Q2’ 21 was put at N1.08 billion as against N892.47 million in Q1’21.
“Similarly, revenue generated from goods/cargo in Q2 2021 was put at N71,555,762 as against N26,195,160 in Q1 2021.
“The rail transportation data for Q2’21 reflected that a total of 565,385 passengers travelled via the rail system in Q2 2021 as against 108,238 passenger recorded in Q2’ 20 and 424,460 in Q1’21 representing 422 per cent growth YoY and 33.20 per cent QoQ respectively.
“Similarly, a total of 42,782 tons of volume of goods/cargo travelled via the rail system in Q2’21 as against 8,691 recorded in Q2’ 20 and 10,511 in Q1’21 representing 392 per cent growth YoY and 307 per cent QoQ respectively.”