The average transport fare paid by air passengers for specified routes on a single journey was up by 20.53 per cent year-on-year to N89,975.68 in January 2024 from N74,648.65 in the corresponding period of 2023.
The National Bureau of Statistics Transport Fare Watch report.
The report indicated that it went up by five per cent month-on-month. Also, it showed that the transport fare for intercity bus journeys paid by commuters per drop increased by 6.72 per cent to N963.38 in January 2024 from N902.70 in December 2023.
The bureau noted that the average fare paid by commuters for bus journeys within the city per drop increased by 0.94 per cent to N650.70 in January on a month-on-month basis from N644.66 in December 2023.
However, on a year-on-year basis, it rose by 48.03 per cent from N650.80 in January 2023.
The average fare paid by commuters for bus journey intercity per drop was N7,577.03 in January 2024, indicating an increase of 2.36 per cent on a month-on-month basis compared to N7,402.16 in December 2023.
The average transport fare paid on Okada transportation was N456.22 in January 2024, which increased by 8.69 per cent when compared with N419.73 recorded in the prior month.
“On a year-on-year basis, the fare declined by 2.15 per cent when compared with January 2023 (N466.25),” the report stated.
It indicated that in January 2024, waterway passenger transportation saw an average fare increase to N1,402.84 from N1,386.76, marking a 1.16 per cent monthly rise.
Year-on-year, it represented a 35.82 per cent increase from N1,032.84 in January 2023.
The removal of the petrol subsidy by President Bola Tinubu at the end of May 2023 has adversely affected transport fares across the country.
