In the second quarter of 2024, the Nigerian rail system generated N1.69 billion in passenger revenue, representing a 53.14 per cent increase from the N1.10 billion reported in the same period of 2023.
The National Bureau of Statistics reported that a total of 689,263 passengers travelled by rail in Q2, representing a growth rate of 45.38 per cent compared to 474,117 passengers in the corresponding quarter of 2023.
The volume of goods transported via rail also saw a significant increase, with 143,759 tons moved in Q2 2024, up from 56,936 tons in Q2 2023.
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Additionally, the Nigerian Railway Corporation reported a volume of 5,940 tons of goods transported through pipelines in Q2 2024, an increase from the 2,856 tons recorded in the same period of the previous year.
Revenue from goods conveyed via rail stood at N537.36m in Q2 2024, a remarkable increase of 206.68 per cent compared to N175.22m in Q2 2023. The movement of goods through pipelines also contributed to revenue generation, with N42.08m collected in Q2 2024, compared to N12.81m in Q2 2023.
Other revenue receipts amounted to N994.68m in Q2 2024, representing a staggering increase of 5,206.68 per cent from the N18.74m recorded in the corresponding period of last year.
