The Nigerian Railway Corporation (NRC) had a successful year in 2023, generating a total revenue of N6,071 billion from various sources including passenger transport, cargo services, and other income streams. This marked an impressive 8.5% increase from the previous year’s revenue of N5,595,887,662.
According to the latest Rail Transportation Data released by the National Bureau of Statistics (NBS), the NRC earned N4,426,495,760 in 2023 from transporting 2,182,388 passengers. While this figure was slightly lower than the N4,546,342,056 generated in 2022 from moving 3,212,948 passengers, it still showcased the NRC’s continued growth and efficiency in passenger transport services.
In terms of cargo transport, the NRC saw a significant increase in revenue, generating N1,079,290,411 in 2023 from transporting 317,244 tonnes of goods. This was a substantial improvement from the N441,744,944 earned in 2022 from moving 157,024 tonnes of goods, highlighting the NRC’s expanding role in the freight transport sector.
Additionally, the NRC also generated N565,843,550 in 2023 from non-passenger and cargo transport income sources, although this was slightly lower than the N607,800,662 generated in 2022. Despite this slight decrease, the NRC’s diverse income streams demonstrate its resilience and adaptability in the face of changing market conditions.
Overall, the NRC’s strong performance in 2023 reflects its commitment to providing reliable and efficient rail transportation services to the Nigerian population. With continued investment and innovation, the NRC is poised for further growth and success in the years to come.
