The Nigerian rail transport system generated N1.69 billion in revenue from passengers during the second quarter of 2024, marking a 53.14% increase from the N1.10 billion recorded in the same period of 2023. This data was released by the National Bureau of Statistics (NBS) in its report on Thursday.
According to the report, 689,263 passengers traveled by rail in Q2 2024, a growth of 45.38% compared to 474,117 passengers in Q2 2023. This surge in ridership reflects the increasing reliance on rail transport across the country.
In addition to passenger travel, the volume of goods transported by rail also saw significant growth. In Q2 2024, 143,759 tons of goods were moved, up from 56,936 tons in the same quarter of the previous year.
The Nigerian Railway Corporation also reported an increase in goods transported via pipelines, with 5,940 tons recorded in Q2 2024, compared to 2,856 tons in Q2 2023.
Revenue from goods transported by rail surged to N537.36 million in Q2 2024, a remarkable 206.68% increase from the N175.22 million generated in Q2 2023. Goods moved through pipelines contributed an additional N42.08 million in revenue, up from N12.81 million in the same period last year.
Other revenue sources also grew substantially, with the NBS report showing that N994.68 million was generated in Q2 2024 from various other streams, a sharp rise of 5,206.68% from the N18.74 million recorded in Q2 2023.
These figures underscore the growing role of rail and pipeline transport in Nigeria’s economy, as infrastructure developments continue to bolster the sector.
