The National Bureau of Statistics (NBS) has released its latest findings on transportation costs, revealing significant increases in fares across various modes of travel in Nigeria.
According to the NBS report titled “Transport Fare Watch for March 2024,” the average airfare for passengers rose by 18.96% over the past 12 months.
In March 2024, the average airfare surged to N88,964.86, marking a notable 1.10% increase from February 2024. Similarly, bus fares within city limits experienced a 1.85% rise, reaching N969.32. Intercity bus travel saw a month-on-month increase of 2.14%, with fares hitting N7,152.97.
Motorcycle (Okada) transportation costs also edged up by 0.92%, totaling N472.16. However, waterway passenger transport witnessed a slight decline, down by 0.82% to N1,384.32.
On a yearly basis, the data indicates substantial increases in transportation expenses. Bus fares within cities soared by 49.55%, while intercity travel costs rose by 79.17%. Okada fares increased by 2.15%, and water transport expenses surged by 34.25%.
State-wise analysis revealed significant disparities in transportation fares. For intercity bus travel, Anambra recorded the highest fare at N9,700.00, followed closely by Akwa-Ibom at N9,000.00. Conversely, Kwara had the lowest fare at N5,500.00.
In terms of intra-city bus fares, Taraba topped the list at N1,450.00 per drop, while Abia had the lowest at N520.00.
Rivers State recorded the highest air transport charges at N100,000.00, with Abia having the lowest at N70,000.00. Lagos State led in motorcycle transport fares at N850.00, while Anambra had the lowest at N240.00.
Bayelsa had the highest water transport fare at N4,500.00, while Borno had the lowest at N440.00. These findings highlight the varied cost of transportation across Nigeria, posing challenges to commuters and reflecting broader economic trends.
