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Business News of Thursday, 23 June 2022


Nigerian Railway Corporation generates N5.70billion

Nigerian Railway Corporation (NRC) Nigerian Railway Corporation (NRC)

The Nigerian Railway Corporation generated N5.70billion revenue from passengers in 2021, the National Bureau of Statistics (NBS) says.

This is contained in the NBS Rail Transportation Data for last year released in Abuja yesterday.

The report show that the total revenue generated from passengers in 2020 was N1.75 billion. The 2021 revenue, the NBS said, represents a 226.44 percent increase.

The report shows that the total revenue generated in 2020, amounting to a 226.44 percent increase. The bureau said over 2.7 million passengers travelled by train last year compared to one million recorded in 2020, representing a 166.03 percent increase.

Similarly, the report showed a total of 168,301 tonnes of goods were transported last year as against 87,440 recorded in 2020, showing a growth rate of 92.48 percent.

In addition, the report showed the revenue generated from goods last year amounted to N317.57 million, higher by 12.87 percent compared to N281.35 million in 2020.

“Other income receipts in 2021 stood at N66.80 million, higher than the N5.19 million recorded in the preceding year.”