Transport Fares Rise By 47.3% in May- NBS

The National Bureau of Statistics (NBS), in its Transport Fare Watch for May 2022, released, said the average fare paid by commuters for bus journey inter-city per drop rose to N3, 668.64 in May 2022 as against N2, 490.6 in May 2021, indicating an increase of 47.3 per cent.

On a month-on-month (MoM) basis, the increase was 3.13 per cent, from the N3, 557.15 recorded in April 2022 to N3, 668.64.

The transport watch report covers bus intra-city community per drop regular route; bus journey intercity, state route, a charge per person; air fare charge for specified routes, single journey; journey by motorcycle (okada) per drop and water way passenger transport.

The report shows that the average fare paid by air passengers for specified routes and single journeys, increased by 0.73 per cent on an MoM basis from N55, 501.49 in April 2022 to N55, 906.86 in May 2022. On a YoY basis, the fare rose by 52.95 per cent, from N36, 552.70 in May 2021.

Similarly, the average fare paid by commuters for bus journeys within the city per drop, increased by two per cent MoM, from N570.64 in April 2022 to N582.06 in May 2022. On YoY analysis, the average fare paid by commuters for bus journeys within cities per drop rose by 45.86 per cent, from N399.06 in May 2021.

In another category, the average fare paid by commuters for journeys by motorcycle per drop declined by 2.21 per cent onana MoM basis, from N426.84 in April 2022 to N417.39 in May 2022. On a YoY, this was a 47.66 per cent rise from N282.67 in May 2021.

Also, the average fare paid for water transport (waterway passenger transportation) in May 2022 dropped to N941.63, from N951.93 in April 2022, showing a 1.08 per cent fall on an MoM basis. On YoY, the fare rose by 13.68 per cent from N828.35 in May 2021.