The Nigerian rail system generated an impressive N1.69 billion in revenue from passenger transportation in the second quarter (Q2) of 2024, reflecting a remarkable 53.14% increase compared to the N1.10 billion recorded during the same period in 2023. These figures were disclosed by the National Bureau of Statistics (NBS) in its latest report, released on Thursday.
The report revealed that a total of 689,263 passengers traveled by rail in Q2 2024, representing a significant growth rate of 45.38% compared to the 474,117 passengers recorded in the corresponding quarter of 2023. This increase highlights the growing popularity of rail transport as a viable means of transportation in Nigeria.
The freight sector also experienced substantial growth during the period. The volume of goods transported via rail in Q2 2024 surged to 143,759 tons, a sharp increase from the 56,936 tons moved in Q2 2023. This improvement is a testament to the ongoing efforts of the Nigerian Railway Corporation (NRC) to boost the efficiency and capacity of its cargo services.
In addition to rail transportation, the NRC reported growth in the pipeline transport sector. A total of 5,940 tons of goods were transported through pipelines in Q2 2024, compared to 2,856 tons in the same period of the previous year. The revenue generated from goods conveyed via rail also saw a significant rise, standing at N537.36 million in Q2 2024, which represents a 206.68% increase from the N175.22 million recorded in Q2 2023.
Furthermore, revenue from the movement of goods through pipelines reached N42.08 million in Q2 2024, up from N12.81 million in Q2 2023, showcasing a 228.35% growth. These figures underscore the increasing reliance on rail and pipeline transport as essential components of Nigeria’s logistics infrastructure.
The continued improvement in rail and pipeline transport in Nigeria aligns with the government’s agenda to modernize and expand the country’s transportation network, enhancing connectivity for passengers and boosting the economy through more efficient movement of goods.
