More Nigerians are increasingly adopting rail transportation, as revenue surged to ₦1.69 billion in the second quarter of 2024, marking a 53.14% rise compared to ₦1.10 billion during the same period in 2023. This information was revealed by the National Bureau of Statistics in a report published on Thursday.

In 2023, the Nigerian Railway Corporation earned ₦1.07 billion in revenue from passengers. The report also showed that 689,263 passengers traveled by rail in Q2 2024, reflecting a 45.38% growth compared to the 474,117 passengers recorded in Q2 2023.

Freight transport by rail saw significant growth as well, with 143,759 tons of goods moved in Q2 2024, compared to 56,936 tons in the same period of 2023. Additionally, the Nigerian Railway Corporation transported 5,940 tons of goods via pipelines in Q2 2024, up from 2,856 tons in Q2 2023.

Revenue from goods transported by rail reached ₦537.36 million in Q2 2024, representing a 206.68% increase compared to ₦175.22 million in Q2 2023. Pipeline transport also contributed to revenue, with ₦42.08 million collected in Q2 2024, compared to ₦12.81 million in the same period last year.

Other revenue sources amounted to ₦994.68 million in Q2 2024, showing a staggering 5,206.68% increase from ₦18.74 million recorded in Q2 2023.

Despite this growth, Nigeria spent 2,470% more on railway debt servicing in the first quarter of 2024 than it generated in rail service revenue. The Nigerian Railway Corporation achieved record revenues of ₦2.12 billion in the first half of 2021, an increase of 31% compared to the same period in 2019, with the primary revenue boost coming from passenger services between Lagos and Ibadan on the new standard gauge railway, while freight transport revenue saw a decline.