The Nigerian rail device generated N1.69bn in earnings from passengers in the second one quarter of 2024, reflecting a 53.14 in line with cent building up in comparison to the N1.10bn recorded in the similar duration of 2023.
This knowledge used to be disclosed by means of the Nationwide Bureau of Statistics in its document immune on Thursday.
In line with the document, a complete of 689,263 passengers travelled by means of rail in Q2, representing a expansion charge of 45.38 in line with cent in comparison to 474,117 passengers within the corresponding quarter of 2023.
The quantity of products transported by means of rail additionally noticed an important building up, with 143,759 lots moved in Q2 2024, up from 56,936 lots in Q2 2023.
Moreover, the Nigerian Railway Company reported a quantity of five,940 lots of products transported thru pipelines in Q2 2024, an building up from the two,856 lots recorded in the similar duration of the former date.
Income from items conveyed by means of rail stood at N537.36m in Q2 2024, a impressive building up of 206.68 in line with cent in comparison to N175.22m in Q2 2023. The motion of products thru pipelines additionally contributed to earnings day, with N42.08m gathered in Q2 2024, in comparison to N12.81m in Q2 2023.
Alternative earnings receipts amounted to N994.68m in Q2 2024, representing a staggering building up of five,206.68 in line with cent from the N18.74m recorded within the corresponding duration of terminating date.
Within the first quarter of 2024, The PUNCH reported that Nigeria spent extra on servicing the debt incurred for development its railways than the earnings generated by means of its railway device. The rustic spent 2,470 in line with cent extra on railway debt servicing than it created from earnings from rail services and products within the first quarter of 2024.
In 2023, the Nigerian Railway Company generated N1.07bn as earnings from passengers.