How FG generated N3.3bn from rail transport in Q2 2024

The federal government generated about N3.3 billion from rail transportation in the second quarter of 2024, according to data released by the National Bureau of Statistics (NBS) on Thursday.

According to the NBS, the data, as contained in the NBS Rail Transportation Data for Q2 2024, was provided by the Nigerian Railway Corporation (NRC) and reported by the bureau.

A breakdown of the figure shows that the NRC generated N1.69 billion as revenue from passengers in Q2 of 2024. The report showed that the figure increased by 53.14 per cent compared to the N1.10 billion generated in Q2 of 2023.

It also showed that N537.36 million was collected in Q2 2024 as revenue from goods/ cargos conveyed by rail, this increased by 206.68 per cent from N175.22 million received in Q2 2023.

Similarly, the report showed that revenue generated from the movement of goods/cargo via pipeline increased to N42.08 million in Q2 2024, compared to the N12.81 million reported in Q2 2023.

“Also, other receipts amounted to N994.68 million, showing an increase of 5.2 per cent in Q2 2024 from the N18.74 million recorded in Q2 2023”.

The report also showed that the number of rail transport passengers in Q2 2024 increased to 689,263. This is higher than the 474,117 recorded in Q2 2023, representing a growth rate of 45.38 per cent.