The National Bureau of Statistics data says that in the past 12 months. The average airfare paid by passengers on specified routes for a single journey has increased by 52%.
In a new report titled, “Transport Fare Watch (April 2022),” the NBS said airfares recorded a 19% increase when gauged on a month-on-month basis.
On state profile analysis, Taraba recorded the highest air transport charges (for specified routes single journey) in April 2022 with N65,000.00. Followed by Kogi with N64,258.91, while Kano recorded the least with N50,000.00. Analysis by zone also showed that the North-Central recorded the highest airfare in April, 2022 with N57,552.54. Followed by the North-East with N56,800.16, while the South-East had the least with N53,402.58. The significant hike in airfares is not unconnected to the recent challenges faced by local airlines ranging from energy price hikes to lack of access to foreign exchange.
Speaking in an interview with our correspondent, an official in the Corporate Affairs Department of the Airline Operators of Nigeria. The umbrella body for local carriers. Mr. Ewos Iroro, described the factors behind the increase of airfares as obvious concerns which the operators had clamoured about over the past few months.
The Chief Executive Officer, TopBrass Aviation, Captain Roland Iyayi, also blamed the inability of the government to solve certain fundamental challenges as the reason behind the spike in airfares in the last one year. According to him, energy costs make up about 50% of airlines’ operating costs. This, he said, would invariably give rise to a corresponding hike in airfares.
Also speaking, an economic expert at the Pan-Atlantic University, Associate Professor Emeka Osuji. He described the hike as inevitable, considering events in the aviation sector and the economic consequences of these events. According to him, much of the energy crisis that has led to increased cost of production would have been tackled. That’s if the government is alive to its responsibilities.
-Punch.