The Nigerian rail system has made a total of N1.69bn in revenue from passengers in the second quarter of 2024, indicating a 53.14 per cent increase compared to the N1.10bn recorded in the same period of 2023.

This was made known by the National Bureau of Statistics (NBS) in its latest report released on Thursday, September 19, 2024.

The report noted that a total of 689,263 passengers travelled by rail in the second quarter of the year, marking a growth rate of 45.38 per cent compared to 474,117 passengers in the corresponding quarter of 2023.

The volume of goods transported using rail also increased, with 143,759 tons moved in Q2 2024, up from 56,936 tons in Q2 2023.

Total revenue from goods transported via rail was 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.

In 2023, the Nigerian Railway Corporation generated N1.07bn as revenue from passengers.