Despite the recent increase in fuel pump prices, the National Bureau of Statistics (NBS) has reported a decrease in the average transportation fare in Nigeria for the month of October. According to the NBS transport fare report, this reduction was observed in comparison to the prices paid in September.
The report indicated that, on a year-on-year basis, there was a significant increase in transportation prices across various categories, including “Bus journey within the city per drop constant route,” “Bus journey intercity (state route) charge per person,” “Airfare charge for specified routes single journey,” “Journey by motorcycle (Okada) per drop,” and “Waterway passenger transport.”
Specifically, the average fare paid by commuters for bus journeys within the city per drop decreased by -16.48%, falling from N1,337.80 in September to N1,117.30 in October 2023. However, on a year-on-year basis, there was an increase of 75.45% from N636.80 in October 2022.
For the average fare paid by commuters for intercity bus journeys per drop, there was a marginal decline to N5,885.60 in October, indicating a 0.53% decrease on a month-on-month basis compared to N5,917.16 in September. On a year-on-year basis, the fare rose by 53.04% from N3,845.81 in October 2022.
Despite the overall drop in some transportation fares, the report underscores the challenges of rising transportation costs, especially on an annual basis. The dynamics of fuel prices and other economic factors continue to influence transportation costs in the country.
