The Nigerian rail system generated N1.69 billion in passenger revenue during the second quarter of 2024, reflecting a 53.14% increase from the N1.10 billion recorded in Q2 2023, according to the National Bureau of Statistics (NBS) report released on Thursday.
A total of 689,263 passengers traveled by rail in Q2 2024, representing a 45.38% growth compared to the 474,117 passengers in the same period last year. Additionally, 143,759 tons of goods were transported via rail, a significant rise from 56,936 tons in Q2 2023.
The Nigerian Railway Corporation also reported an increase in pipeline transport, with 5,940 tons of goods moved in Q2 2024, up from 2,856 tons in the previous year.
Revenue from goods transported by rail reached N537.36 million, a 206.68% jump compared to N175.22 million in Q2 2023. Pipeline goods transport contributed N42.08 million to the total revenue, up from N12.81 million last year.
Other sources of revenue brought in N994.68 million, marking a massive increase of 5,206.68% compared to the N18.74 million recorded in Q2 2023.
