The average fare paid by commuters for bus journeys within the city per drop increased by 97.88 per cent from N649.59 in May 2023 to N1,285.41 in June 2023.
The National Bureau of Statistics (NBS) in the Transport Fare Watch of June 2023 posted on its website stated that on a year-on-year basis, it rose by 120.63% from N582.61 in June 2022.Analysts have attributed the astronomical increase to fuel pump price hike following the removal of fuel subsidy by President Bola Ahmed Tinubu.
Transport Fare Watch for June 2023 covers the following categories: bus journey within the city per drop constant route; bus journey intercity (state route) charge per person; air fare charge for specified routes single journey; journey by motorcycle (Okada) per drop; and water way passenger transport.
In another category, the average fare paid by commuters for bus journey intercity per drop rose to N5,686.49 in June 2023, indicating an increase of 42.09% on a month-on-month basis compared to N4,002.16 in May 2023.
“On a year-on-year basis, the fare rose by 55.25% from N3,662.87 in June 2022. In air travel, the average fare paid by air passengers for specified routes’ single journey increased by 4.93% from N74,948.78 in May 2023 to N78,640.54 in June 2023. On a year-on-year basis, the fare rose by 40.22% from N56,082.64 in June 2022. “The average transport fare paid on Okada transportation was N618.52 in June 2023 which was 33.14% higher than the rate recorded in May 2023 (N464.55),” the statistics bureau. On a year-on-year basis, the fare rose by 48.34 per cent when compared with June 2022 (N416.97). For water transport (waterway passenger transportation), the average fare paid in June 2023 increased to N1,366.22 from N1,045.15 in May 2023. On a year-on-year basis, it increased by 44.84% from N943.26 in June 2022.
