Revenue from rail transportation system surged to ₦1.69bn in the second quarter of 2024, fresh data on Rail Transportation Data (Q2 2024) released by the National Bureau of Statistics (NBS) on Thursday has shown.

This marks a 53.14 per cent increase compared to the ₦1.10bn recorded in the corresponding period of 2023.

In 2023, the Nigerian Railway Corporation generated ₦1.07bn as revenue from passengers.

According to the report, a total of 689,263 passengers travelled by rail in Q2, representing a growth rate of 45.38 per cent compared to 474,117 passengers in the corresponding quarter of 2023.

The volume of goods transported via rail also saw a significant increase, with 143,759 tons moved in Q2 2024, up from 56,936 tons in Q2 2023.

Additionally, the Nigerian Railway Corporation reported a volume of 5,940 tons of goods transported through pipelines in Q2 2024, an increase from the 2,856 tons recorded in the same period of the previous year.

Revenue from goods conveyed via rail stood at ₦537.36m in Q2 2024, a remarkable increase of 206.68 per cent compared to ₦175.22m in Q2 2023. The movement of goods through pipelines also contributed to revenue generation, with ₦42.08m collected in Q2 2024, compared to ₦12.81m in Q2 2023.

Other revenue receipts amounted to ₦994.68m in Q2 2024, representing a staggering increase of 5,206.68 per cent from the ₦18.74m recorded in the corresponding period of last year.

In the first quarter of 2024, Nigeria spent 2,470 per cent more on railway debt servicing than it made from rail service revenue.

The Nigerian Railway Corporation recorded record revenues of ₦2.12bn in the first half of 2021, an increase of 31 per cent over the same period in 2019, which recorded the previous record revenue.

At the same time, revenue from freight transport was down, with gains coming mainly from passenger transport between Lagos and Ibadan on the new standard gauge.

The management of the Nigerian Railway Corporation (NRC), on Sunday, said normal train services between Kaduna-Rigasa and Idu Abuja would continue inspite of a derailment on Sunday morning.

The NRC Deputy Director Public Relations, Yakub Mahmood said this in a statement on Abuja, adding that the derailment of its coach at Jere station would not hinder operations.

“All the passengers on board the Kaduna-Rigasa to Idu-Abuja arrived at their respective destinations safely. Meanwhile, a team of NRC Engineers are already at the site to restore the affected locations.

“The NRC management regrets any inconveniences to our affected valued passengers. NRC wishes to assure our passengers of our efforts toward ensuring their safety and comfort always,” he said.

Also, the Nigerian Safety Investigation Bureau (NSIB) has said that it had deployed a team to the site where the Abuja-bound train from Kaduna derailed.

This was contained in a statement signed by Mrs Bimbo Oladeji , the NSIB Director of Consumer Public Affairs and Consumer Protection on Instagram (nsibofficial) on Sunday.

“NSIB is aware of the derailment of an Abuja -bound train from Kaduna which occurred halfway into the journey at Jere.
 “A go team has been deployed to the site of the incident,” she said.

The management of the Nigerian Railway Corporation (NRC), on Sunday, said normal train services between Kaduna-Rigasa and Idu Abuja would continue inspite of a derailment on Sunday morning.

The NRC Deputy Director Public Relations, Yakub Mahmood said this in a statement on Abuja, adding that the derailment of its coach at Jere station would not hinder operations.

“All the passengers on board the Kaduna-Rigasa to Idu-Abuja arrived at their respective destinations safely. Meanwhile, a team of NRC Engineers are already at the site to restore the affected locations.

“The NRC management regrets any inconveniences to our affected valued passengers. NRC wishes to assure our passengers of our efforts toward ensuring their safety and comfort always,” he said.

Also, the Nigerian Safety Investigation Bureau (NSIB) has said that it had deployed a team to the site where the Abuja-bound train from Kaduna derailed.

This was contained in a statement signed by Mrs Bimbo Oladeji , the NSIB Director of Consumer Public Affairs and Consumer Protection on Instagram (nsibofficial) on Sunday.

“NSIB is aware of the derailment of an Abuja -bound train from Kaduna which occurred halfway into the journey at Jere.
 “A go team has been deployed to the site of the incident,” she said.

The 700 km Lagos-Calabar coastal road is intended to link Lagos to Cross River, passing through Ogun, Ondo, Delta, Bayelsa, Rivers, and Akwa Ibom states before ending in Cross River.

The project has come under heavy criticism by Nigerians because of the demolition of some buildings, with many believing the timing is inappropriate.

The President made the remarks in Lagos during the inauguration of the project and several others to commemorate his first year in office.

According to him, the 10-lane road initiative was a significant achievement in the country’s journey toward progress and development.

He said the kickoff of the 700 km superhighway project represents a crucial step in our efforts to enhance connectivity, facilitate economic growth, and improve the quality of life for our people.

He said: “This project is more than just a road – it is a symbol of hope, unity, and prosperity. It will connect our communities in nine states, foster trade and commerce, boost tourism, and create new opportunities for generations to come.

“A similar road in Ireland, called the Wild Atlantic Way, 2,600km long is expected to fetch 3 billion euros a year in tourism revenues.

“I want to express my gratitude to the team of engineers, workers, and stakeholders who have worked tirelessly to bring us to this point. Your dedication and expertise are the driving force behind the take-off of this project.”

President Tinubu further emphasized the significance of safety, sustainability, and social responsibility, urging stakeholders to collaborate to ensure that this project benefits all and leaves a lasting legacy for future generations.

“This is not only a legacy project of this administration but a dream come true that will connect some neglected towns and cities along the coastal route. Over time it has been noticed that both Tin Can Island and Apapa ports are becoming shallower thereby limiting the size of ships that can berth at those strategic ports.

“It is pertinent to note that the Lagos State Government in partnership with private investors developed Lekki Deep Sea Port which does not have a link road. It is however obvious that this development will open up businesses and investment along the project corridor.

“The potential of this road is enormous because it will have two spurs which will link up with Sokoto – Badagry Expressway which is under procurement and African Trade Route which connects South East to Cameroon thereby connecting every region of the country.”

President Tinubu also appealed for the understanding of the general public, particularly those whose properties and means of livelihood will be affected by this landmark project.

“It is worthy to state that the model of EPC+F( Engineering, Procurement, and Construction Plus Finance) which the ministry is adopting is commendable. This sees the Federal Government investing while waiting for private investors to bring on board their counterpart funds.

“I commend the Honourable Minister of Works and the staff of the Ministry who are ensuring that the contractor delivers good quality work.

”I further crave the understanding of the general public, especially those whose properties and sources of livelihood will be impacted by this iconic project. We all make some sacrifices to enable our country to grow. But be rest assured: this government is a compassionate government that cares for you and will do the utmost to offer succour, by way of compensation.”