Passengers accounted for 63.5% of railway revenue in 2024

Key takeaways

  • Passenger travel generated the largest share of railway revenue at 63.5%.
  • Pipeline usage accounted for 13.9%, showing that the sector tapped into multiple transport streams.
  • Other income sources were minimal at 2%, highlighting limited ancillary revenue sources.
  • The dominance of passenger fares underscores the importance of commuter travel for railway sustainability.

Nigeria’s railway earnings rely heavily on passenger services, which bring in over three-fifths of total revenue. Goods and cargo remain a secondary but significant source, while pipeline usage underscores the sector’s broader transport role. Other income sources are negligible, reflecting limited additional revenue streams. The figures for Q1–Q3 2024 highlight how pivotal passenger fares are to the system’s bottom line. However, the moderate contribution from freight and pipelines signals potential for revenue diversification. Investing in these areas could reduce dependence on passenger travel and strengthen the railway’s overall financial health.

Source:

National Bureau of Statistics

Period:

2024
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