Transport fares jump by 98% nationwide – NBS
Cost of transportation across the country has jumped by 98 per cent, according to the National Bureau of Statistics (NBS), in its just-published ‘Transport Fare Watch’ report for June 2023.
The NBS in the report which blamed the increase on the May 29, 2023 removal of subsidy on imported premium motor spirit (PMS) by President Bola Tinubu, said transport fares within Nigerian cities rose from N649.59 in May 2023 to N1,285.41 in June 2023.
According to NBS, the increase also means that the cost of intra-city bus transportation rose by 98 per cent or N636 within one month.
The NBS Transport Fare Watch report for June 2023 also disclosed that the increase included the breakdown of bus journeys within the cities per drop constant route; bus journey intercity (state route) charge per person amongst other means of transportation.
On a year-on-year basis, it said bus fares rose by 120.63 per cent from N582.61 paid by commuters in June 2022.
“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 indicating an increase of 42.09 per cent on a month-on-month basis.
“On a year-on-year basis, it rose by 120.63 per cent from N582.61 in June 2022.
“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 per cent from N3,662.87 in June 2022,” the report read.
