According to the latest report released by the National Bureau of Statistics (NBS), transport fares across various categories have experienced increases in March 2024.
The report covers bus journeys within the city per drop, intercity bus journeys, air fares for specified routes, motorcycle (Okada) journeys, and waterway passenger transport.
The average fare for bus journeys within the city per drop increased by 1.85% from N951.76 in February 2024 to N969.32 in March 2024. On a year-on-year basis, this represents a significant rise of 49.55% from N648.16 in March 2023.
Similarly, the average fare for intercity bus journeys per drop rose by 2.14% from N7,002.97 in February 2024 to N7,152.97 in March 2024. On a year-on-year basis, the fare increased by 79.17% from N3,992.36 in March 2023.
Air travel also saw an increase, with the average fare for specified routes single journey rising by 1.10% to N88,964.86 in March 2024. On a year-on-year basis, this represents an 18.96% increase from N74,782.43 in March 2023.
The report also highlighted changes in motorcycle and water transport fares. The average fare for motorcycle journeys increased by 0.92% to N472.16 in March 2024, while water transport fares declined to N1,384.32, indicating a decrease of 0.82% on a monthly basis.
“State profile analysis revealed significant variations in transport fares across different regions. For intercity bus travel, Anambra recorded the highest fare at N9,700.00, while Kwara had the least at N5,500.00.
“In terms of bus journeys within the city, Taraba recorded the highest fare at N1,450.00, while Abia had the least at N520.00. Rivers had the highest air transport charges at N100,000.00, while Abia had the least at N70,000.00.”
Also, Lagos State recorded the highest motorcycle transport fare at N850.00, while Anambra had the least at N240.00. For water transport, Bayelsa had the highest fare at N4,500.00, while Borno had the least at N440.00.
