Transport Fare Watch (May 2024)

Executive Summary

Transport Fare Watch for May 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 motor cycle (Okada) per drop; and water way passenger transport. The average fare paid by commuters for bus journeys within the city per drop increased to 0.86% from N967.76 in April 2024 to N976.08 in May 2024. On a year-on year basis, it rose by 50.26% from N649.59 in May 2023. In another category, the average fare paid by commuters for bus journey intercity per drop was N7,129.46 in May 2024, indicating an increase of 0.10% on a month-on-month basis compared to N7,122.57 in April 2024. On a year-on-year ba sis, the fare rose by 78.14% from N4,002.16 in May 2023. In air travel, the average fare paid by air passengers for specified routes single journey was N89,432.43 in May 2024, showing an increase of 0.27% while compared to previous month (April 2024). On a year-on -year basis, the fare rose by 19.32% from N74,948.78 in May 2023. The average transport fare paid on Okada transportation was N473.51 in May 2024 which shows a decline of 0.62% when compared with the value recorded in April 2024 (N476.49). On a year-on-year basis, the fare increased by 2.45% when compared with May 2023 (N462.18). For water transport (waterway passenger transportation), the average fare paid in May 2024 was N1,385.95 which re mains the same when compared to the previous month (April 2024). On a year-on-year basis, it increased by 32.61% from N1,045.15 in May 2023.

Data source: National Bureau of Statistics