The National Bureau of Statistics (NBS) reported a significant surge of 61.27% in the costs of intercity bus travel in Nigeria for the month of November when compared to the same period the previous year. The average fare for intercity bus travel rose to N6,206.53 per drop in November 2023, marking a 5.45% increase on a month-on-month basis compared to October 2023. Additionally, the report highlighted a decline in the average fare for bus journeys within the city per drop, while air travel costs and Okada (motorcycle) transportation showed varying trends.
Key Points:
- The cost of intercity bus travel in Nigeria increased by 61.27% year-on-year, reaching N6,206.53 per drop in November 2023 compared to N3,848.48 in November 2022.
- The average fare for bus journeys within the city per drop declined by 6.23% month-on-month, dropping from N1,117.30 in October to N1,047.63 in November.
- On a year-on-year basis, the fare for city bus journeys rose by 64.44%, increasing from N637.10 in November 2022.
- Air travel costs for specified routes increased by 3.24% month-on-month, with the average fare for a single journey reaching N81,334.05 in November.
- Year-on-year, air travel costs rose by 11.01% compared to November of the prior year (N73,270.27).
- Okada transportation costs declined by 6.74% month-on-month, with the average fare at N473.13 in November.
- On a year-on-year basis, Okada transportation costs rose by 3.07%, increasing from N459.02 in November 2022.
- Water transport costs decreased by 3.08% month-on-month, with the average fare at N1,352.70 in November.
- Year-on-year, water transport costs increased by 34.42% compared to November 2022 (N1,006.33).
Source: Punch