The Nigerian rail sector’s total revenue soared by 81.2% q/q to N1.69 billion in Q4 2022, primarily due to increased passenger traffic and other revenue sources.
However, y/y revenue dipped by 16%, largely as a result of lost revenue from the prolonged suspension of the Abuja-Kaduna route’s rail operations. Despite the sector’s growth, its contribution to the transportation sector’s real GDP remained at a meager 0.03% in Q4 2022.