Revenue from rail transport declined by 4.7 percent year-on-year (YoY) to N2.19 billion in the third quarter of 2024 (Q3’24), compared to N2.3 billion in the same period of 2023 (Q3’23), according to the National Bureau of Statistics (NBS) in its Rail Transportation Data for Q3’24.

The revenue breakdown reveals that N1.7 billion was generated from passenger services, N412.57 million from goods and cargo, and N51.85 million from the transportation of goods via pipelines. An additional N34.77 million was collected under “Other Receipts.”

The NBS also reported that 743,205 passengers traveled by rail during the period, marking a 25.05 percent increase from 594,348 passengers in Q3 2023.

The volume of goods and cargo transported by rail in Q3 2024 amounted to 96,401 tons, up from 69,003 tons in the same quarter of the previous year. However, the volume of goods transported via pipelines decreased to 7,320 tons, down from 12,960 tons in Q3 2023.

Regarding revenue, passenger transport saw an increase, with N1.7 billion generated, reflecting a 13.83 percent rise from the N1.49 billion recorded in Q3 2023.