In spite of the rapid growth of Lagos in recent times, road transport remains the main means of transportation in Lagos while development of rail and water transportation modes is currently neglected. This work sets out to examine the usage, potential ridership and challenges of rail mass transit in Lagos State. The study utilized primary data obtained from questionnaire, in-depth interview surveys of stakeholders in the transport sector, field study, observation guide and secondary data obtained from relevant organizations. The data were analyzed using both descriptive and inferential statistical methods. This work demonstrates the need for the development of rail for efficient transportation of commuters in Lagos/Nigeria and possibly will influence policy on transport. It will also add to the existing literature on rail transportation and transportation in general, thereby producing valuable information that could help policy makers, scholars, academic researchers, students and other stakeholders in appreciating the situation of rail transportation in Lagos.