In 1955 the Nigerian Railway Corporation Act was passed by a British Act of Parliament, which gave Nigerian Railways Corporation (NRC) exclusive rights to construct and operate rail services in Nigeria. By 1964 when the construction of 640km Kano-Maiduguri rail line, then known as Bornu extension, was completed, the present core of the railway network had been put in place. The headquarters of the Corporation are located at Ebute-Metta in Lagos while the entire network is, for administrative conveniences, divided into seven autonomous districts viz: Lagos (Ebute-Metta Junction), West (Ibadan), North (Zaria), East (Enugu), North-West, (Minna), North-Central (Kafanchan) and North-East (Bauchi). In 1988 Nigerian Railways declared bankruptcy. From 2006 to the present day the railway has been undergoing some rehabilitation and modernization with the full political and financial support of the Federal Government through the Federal Ministry of Transport.

In 1854, Charles Frederick Beyer and Richard Peacock founded Beyer, Peacock & Co, a mechanical engineering company. Their works were at Gorton, east of Manchester. A legal partnership was formed between Charles Frederick Beyer, Richard Peacock, and Henry Robertson, a sleeping partner which took effect from 1 January 1855. In the early days of the company it was the partners who managed the affairs of the company. Beyer acted as Chief Engineer with control over the Drawing Office and Works, Peacock as Commercial Manager handled the commercial side of the business, and Robertson acted as Financial Advisor. Under the Chief Engineer were the Chief Draughtsman and the Works Manager. An accountant was also employed. In July 1855 the first locomotive engine left Gorton. It was made for the Great Western Railway Company and was used on the Paddington to Oxford route. Between 1854 and 1868 Beyer, Peacock built 844 locomotives, of which 476 were exported. The company sold mainly to the colonies, South Africa and South America, but never broke into the North American market. In 1883 the company was incorporated as a private limited company and renamed Beyer, Peacock & Co Ltd, with registered offices at 34 Victoria Street, Westminster. In 1902 the company became a public limited company, Beyer, Peacock & Co (1902) Ltd. (The (1902) was dropped the following year). In 1908 the registered offices were moved to Gorton and the new London office was at 14 Victoria Street, Westminster. In 1919 the London offices were given up and then in 1923 new premises were acquired at Abbey House, London. During WWII the registed offices were moved to Flore Manor in Northamptonshire. In 1956 the London offices of the company were moved from Abbey House to Locomotive House, Buckingham Gate. One of Beyer, Peacock's most successful locomotives was an articulated locomotive called the Garratt. Its designer, H. W. Garratt, had a wide knowledge of locomotive design and construction from his work in various countries including Argentina and Cuba. In 1908 Garratt was granted a patent. Beyer, Peacock had sole rights of manufacture in Britain. In 1928 the patents ran out and the company began to use the name Beyer-Garratt to distinguish their locomotives. During WWI Beyer, Peacock began to manufactire artilliery and in August 1915 Gorton Works was put under Government control with production switching almost entirely to the war effort, especially heavy field artilliery. During WWII the company was again brought under government control but continued to build locomotives throughout the war. Beyer, Peacock was faced with competition from tramways and electric railways. They began to look for alternatives so that they were not dependent on one product. In 1932 they acquired Richard Garratt Engineering Works Ltd who made steam traction engines, steam road lorries, and agricultural equipment. In 1949 Metropolitan-Vickers, Beyer, Peacock Ltd was formed which was jointly owned by Metropolitan Vickers and Beyer, Peacock. The company was created to build locomotives other than steam. By 1953 Beyer, Peacock had acquired the following subsidiary companies: Denings of Chard, makers of agricultural machinery; Theramic Ltd, makers of theramic siphons for locomotives; Maiuri Refrigeration Patents, Low Temperature Developments Ltd, and some other companies concerned with sales, such as Rail Traction Supplied Ltd. In 1957 Beyer, Peacock acquired Anti-attrition Metal Co and in 1958 Air Control Installations Ltd. In this year Beyer, Peacock (Hymek) Ltd was formed. The late 1950s saw a rapid transformation in locomotive manufacture. In 1955 British Rail decided to switch from steam to diesel and overseas users followed suit. Beyer, Peacock all but closed down the Gorton plant at the end of 1958. They had chosen to make diesel-hydraulics but British Rail opted to use diesel-electrics. In 1960 Beyer, Peacock’s subsidiary companies became members of the Beyer, Peacock Group and Beyer, Peacock Co. Ltd became the holding company. In 1966 all production ceased at the Gorton foundry. Shares in Beyer, Peacock were eventually bought by National Chemical Industries Ltd and in 1980 Beyer, Peacock and Co. Ltd became a dormant company. The name was resurrected in the 1990s as a trading name, based in Devon.

The Hunslet Engine Company was founded in 1864 at Jack Lane, Hunslet, Leeds by John Towlerton Leather. In 1871, James Campbell bought the company for £25,000. By 1902, Hunslet supplied engines to over thirty countries worldwide. During 1902, the company was reorganised as a private limited company with the name Hunslet Engine Company Ltd. During the First World War the company was engaged in the manufacture of munitions. Hunslet was one of the early pioneers in the 1930's that worked on the perfecting of the diesel locomotive and acquired the patterns, rights and designs of other builders including Kerr Stuart and the Avonside Engine Co. During the Second World War the company’s best known contributions to the war effort was production of the famous 'Austerity' locomotives. Post-war locomotive production included many of the Hunslet flame-proof diesel engines for use in the coal mines. During the 1970s the company bought the Scottish firm Andrew Barclay and local firms Hudswell Clarke and Greenwood & Batley. In 1987 Hunslet was taken over by Telfos Holdings Ltd who in 1989 split the Group into two major components - Hunslet GMT (handling underground locomotives) based in Leeds, and Hunslet Barclay (covering surface locomotives and rolling stock) based in Kilmarnock. A new company, Hunslet Transportation Projects, was formed to build the British Rail class 323 electric trains, the last project to be executed at the Hunslet works in Leeds before it was closed and demolished. Kilmarnock continued, building a capability of refurbishing main line trains. The remaining Hunslet Barclay businesses have since been absorbed into Wabtec.

The North British Locomotive Co Ltd was formed by the merger the 'big three' Glasgow locomotive builders (Sharp Stewart & Co, Neilson, Reid & Co and Dubs & Co) in 1903 as a result of increased competition both at home and from abroad. The new company claimed to be the largest manufacturers of locomotives anywhere outside America and was prompted by the ever increasing annual production by the Baldwin Locomotive Company in Philadelphia, USA, which had recently made incursions into the domestic UK market and in India, which the British locomotive industry had considered to be its own special preserve. It was believed that the rivalries and competition between the three companies operating individually within Glasgow had already produced significant technological advances which, in the new North British Locomotive Company would combine to make a single powerful and well equipped company, ready to dominate the market and take on competition, particularly from America. The new company never managed to operate at its capacity of 700 locomotives per year, producing a maximum of 573 in 1905. These numbers were maintained through to 1909 when production numbers began to fall rapidly. During the First World War North British Locomotive Company made locomotives for the War Department, as well as munitions and other military equipment, which were produced in vast quantities to meet the high demand. However, between the two World Wars, while orders were still being received, particularly from domestic railway companies, the fluctuation of demand meant that the company ran into some difficulty. As a result, employee numbers were significantly reduced, and manufacturing was concentrated at Queens Park and Hyde Park works. The last locomotive orders were completed at the Atlas Works in 1923. The Great Depression from 1929 saw the decline in demand for locomotives worldwide, with none built at all in 1932, and by the end of the 1930s, locomotive production at the North British Locomotive Company was operating at a loss. At the outbreak of the Second World War the company concentrated once more on war work, supplying both locomotives for the Ministry of Supply and munitions for the war effort. After World War II there was something of a revival in locomotive manufacturing, with orders being received and agreements being reached to build diesel & electric locomotives with the General Electric Company. This upturn in fortune was not to last however, as the North British Locomotive Company failed to make the successful transition from steam to diesel locomotive production. In 1957, the last order for steam locomotives was placed with the company and the last steam locomotive was completed in 1958. Although the company were making small industrial diesel locomotives, and received some early main line diesel orders from British Railways, the orders were never big enough to maintain the company. Other locomotive manufacturers, who had acted swiftly in transferring from steam to diesel and electric production, were becoming more successful. The company went into liquidation on 19 April 1962 with Messers Andrew Barclay Sons & Co (Kilmarnock, Ayrshire, Scotland) acquiring the North British Locomotive Company's goodwill.

Sir W.G. Armstrong, Whitworth and Company Ltd was formed in 1897 by the merger of Joseph Whitworth and Company with Armstrong Mitchell and Company, which itself had been formed by the merging of W.G. Armstrong and Co with Charles Mitchell and Co in 1882. This new company manufactured a wide range of products including hydraulic equipment, bridges, armaments and ships. Its shipyards produced many merchant vessels such as freighters, tankers, dredgers and icebreaking train ferries for Lake Baikal. They also constructed warships for the Royal Navy, Imperial Russian Navy, Imperial Japanese Navy and United States Navy, including the first polar icebreaker ‘Yermak’, which was constructed for the Russian Navy and launched in 1898. Initially the new company was headed by William George Armstrong but following his death in 1900 Andrew Noble was appointed as chairman. Also, at this time production of cars and truck would begin, in order to diversify production following the end of the Boer War and the resultant drop in the demand for artillery. Initially these were designed by other companies, but this would switch to inhouse designs later on. In 1913 an aerial department was formed to begin production of aeroplane and airships. This department produced a number of different designs during the First World War and in 1920 it became a subsidiary under the name Sir W.G. Whitworth Aircraft Ltd. Following the end of the First World War the company again recognised a need to diversify due to a greatly reduced demand for munitions. As part of this it formed a subsidiary under the name Armstrong Whitworth Development Company. This acquired Siddeley-Deasy, which became known as Armstrong Siddeley Motors, as well as a controlling interests in Crompton and Co and A and J Main and Co. The Scotswood Works would also be repurposed to build railway locomotives. This proved successful due to the modern machinery that had been installed and would produce 1,464 locomotives until 1937 when it was converted back to armament manufacturing. In addition to the steam locomotives common at the time this figure also included diesel locomotives and railcars due to a licence acquired for Sulzer. 1920 not only saw the aerial department’s reorganisation into the Armstrong Whitworth Aircraft Company but also the purchasing of a controlling interest in Pearson and Knowles Coal and Iron Co, along with its subsidiary Partington Steel and Iron Co. Later, in 1922, the company would also form the Newfoundland Power and Paper Utilities Corporation in order to finance a paper mill and in 1925 Boving Engineering Co was purchased. By 1926 the company was suffering financially. Due to the Newfoundland company going over budget and not achieving its productions goals the company was suffering from a greatly reduced cash flow. In the first 11 months of 1926 its losses amounted to £625,767 and by 1927 the decision had been take to merge the defence and engineering businesses with that of Vickers in order to create a new subsidiary of Vickers Armstrong. The ownership of this would be split so that Vickers held 2/3 and Armstrong-Whitworth held 1/3. The Armstrong Whitworth Development Company would also be sold, and it became the Armstrong Siddeley Development Company following its acquisition by J.D. Siddeley, although Armstrong-Whitworth still held a substantial shareholding and also retained the Pearson and Knowles Coal and Iron Company. Despite these actions heavy financial losses continued and, although they were offset by the sale of the company’s shares in the Armstrong Siddeley Development Company, they still resulted in a serious reduction in capital. As a result, the decision was taken to form two new companies to take over the activities of the original one. These were Sir W.G. Armstrong Whitworth and Company (Engineers) Ltd, which took over the general engineering business, and Sir W.G. Armstrong Whitworth and Company (Shipbuilders) Ltd, which took over the Devon, Walker and Tyne shipyards. A holding company was also formed to manage these, Armstrong Whitworth Securities Company Ltd. In 1930 a third company was added to the group, Sir W.G. Armstrong Whitworth and Company (Ironfounders) Ltd. Beyond this the 1930s saw a winding down of the Armstrong-Whitworth group’s activities. In 1935 Vickers bought the remaining shares of Vickers-Armstrong and in 1937 Sir John Jarvis acquired Sir W.G. Armstrong Whitworth and Co (Ironfounders) Ltd to relieve unemployment on Tyneside. By 1937 the group had also ended production of locomotives and only the engineering subsidiary remained. This was sold in 1943 and the group was liquidated.