Nigerian Railway Corporation N7.46bn Revenue Beats Target by 11% in 2025

Nigerian Railway Corporation (NRC) generated N7.46bn from passenger services in 2025, exceeding the Federal Government's N7bn target by 11%. The operator also recorded N3.02bn in freight revenue as cargo operations expanded across Nigeria's rail network.

The revenue performance demonstrates the financial viability of Nigeria's rail modernisation programme and validates government investment in railway infrastructure. The 11% passenger revenue overshoot, combined with robust freight growth, positions NRC as a sustainable transport operator capable of covering operational costs and contributing to network expansion financing. This financial stability could accelerate private sector participation in Nigeria's railway development.

Passenger traffic rose to 3.58 million in 2025 from 3.15 million in 2024, representing a 13.7% increase year-on-year. The passenger revenue figure of N7.46bn translates to an average fare of approximately N2,084 per passenger journey. Freight operations contributed N3.02bn to total revenues, though specific tonnage figures were not disclosed in NRC's operational fact sheet.

Total railway revenues combining passenger and freight services reached N10.48bn in 2025. The freight segment's strong performance reflects increased cargo demand on Nigeria's standard gauge railway lines, particularly the Lagos-Ibadan and Abuja-Kaduna corridors which have become critical freight arteries.

Nigeria's railway revenue growth aligns with broader African rail development trends, where countries including Kenya, Ethiopia and Morocco have demonstrated that modern rail networks can achieve operational profitability. NRC's performance supports the case for continued investment in Nigeria's planned 5,000km standard gauge network, with freight revenue diversification reducing dependence on passenger services for financial sustainability.