Nigeria's railway goods/cargo transport is experiencing a boost, with goods transported increasing from 9.1k tonnes in Q1 2021 to 160.7k tonnes in Q1 2024, representing 1,671% growth. Revenue has surged by 3,114% from ₦19m to ₦607m in the same period. Revenue has increased in eight consecutive quarters since Q2 2022.
After peaking at ₦5.69b in 2021, Nigeria's railway revenue from passengers has fallen for two consecutive years, dropping to ₦4.43b in 2023. Cargo revenue, on the other hand, reached its highest (₦1.08b) in 2023.y revenue from passengers has fallen for two consecutive years, dropping to ₦4.43b in 2023. Cargo revenue, on the other hand, reached its highest (₦1.08b) in 2023.
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