Nigeria’s headline inflation has risen steadily between July 2023 and June 2024
Prices of food items like tomatoes, yams, Irish potatoes, and brown beans have witnessed more than a 250% increase over the past 12 months in Nigeria. The country's headline inflation rate went from 24.08% in July 2023 to 34.19% in June 2024.
2020 marked the lowest point for both passenger volume (1.02 million) and revenue (₦1.7 billion), reflecting the full impact of COVID-19 lockdowns.
Strong recovery followed in 2021, with passenger numbers jumping to 2.71 million and revenue surging by 226% to ₦5.6 billion.
2024 was the best-performing year, recording ₦6.7 billion in revenue and 3.14 million passengers, a clear sign of renewed public confidence in rail transport.
Q1 2025 (₦1.9 billion revenue, 929,000 passengers) suggests steady ridership levels but moderate momentum compared to the 2024 surge.
