Transport Fare Watch (January 2024)

Executive Summary

Transport Fare Watch for January 2024 covers the following categories: bus journey within the city per drop constant route; bus journey intercity (state route) charge per person; air fare charge for specified routes single journey; journey by motorcycle (Okada) per drop; and water way passenger transport. The average fare paid by commuters for bus journeys within the city per drop increased to 6.72% from N902.70 in December 2023 to N963.38 in January 2024.
On a year-on year basis, it rose by 48.03% from N650.80 in January 2023. In another category, the average fare paid by commuters for bus journey intercity per drop was N7,577.03 in January 2024, indicating an increase of 2.36% on a month-on-month basis compared to N7,402.16 in December 2023.
On a year -on-year basis, the fare rose by 89.50% from N3,998.42 in January 2023. In air travel, the average fare paid by air passengers for specified routes single journey was N89,975.68 in January 2024, showing an increase of 5.00% while compared to previous month (December 2023). On a year-on -year basis, the fare rose by 20.53% from N74,648.65 in January 2023.
The average transport fare paid on Okada transportation was N456.22 in January 2024 which increased by 8.69% when compared with the value recorded in December 2023 (N419.73). On a year-on-year basis, the fare declined by 2.15% when compared with January 2023 (N466.25).
For water transport (waterway passenger transportation), the average fare paid in January 2024 increased to N1,402.84 from N1, 386.76 which indicates an increase of 1.16% on monthly basis. On a year-on-year basis, it increased by 35.82% from N1,032.84 in January 2023.
On state profile analysis, for intercity bus travel (state route charged per person fare), the highest fare was recorded in Anambra with N10,500.00, followed by Akwa-Ibom with N10,000.00. The least fare was recorded in Kwara with N5,900.00, followed by Taraba with N6,200.00. Taraba state recorded the highest bus journey within the city (per drop constant route) in January 2024 with N1,400.00 followed by Jigawa with N1,250.00.
On the other hand, Abia recorded the least with N550.00, followed by Adamawa with N570.00. Similarly, Rivers recorded the highest air transport charges (for specified routes single journeys) with N100,500.00, followed by Lagos with N100,000.00. Conversely, Abia recorded the least fare with N73,000.00, followed by Plataeu with N80,000.00.
Also, Lagos State had the highest motorcycle transport fare in January 2024 with N840.00, followed by Ondo with N750.00. The least fare was recorded in Anambra with N230.00, while Bayelsa followed with N250.00. Similarly, water transport fare was highest in Bayelsa with N4,700.00, followed by Delta with N4,200.00, while the least fare was recorded in Borno with N450.00, followed by Gombe with N550.00. 

Data source: National Bureau of Statistics