On Tuesday, the National Bureau of Statistics (NBS) released the ‘Transport Fare Watch for November 2023,’ revealing a 61.27% year-on-year increase in the average airfare paid by passengers in the country.
The disclosed data indicates that the airfare surged by 61.27%, escalating from N73,270.27 in November 2022 on a year-on-year basis. Specifically, in air travel, the average fare paid by air passengers for a single journey on specified routes reached N81,334.05 in November 2023, reflecting a 3.24% increase from the previous month (October 2023). The report also notes an 11.01% year-on-year rise from N3,848.48 in November 2022.
Regarding Okada transportation, the average transport fare paid in November 2023 was N473.13, marking a 6.74% decline compared to the recorded value in October 2023 (N507.30). On a year-on-year basis, the fare increased by 3.07% compared to November 2022 (N459.02).
For water transport (waterway passenger transportation), the average fare paid in November 2023 decreased to N1,352.70 from N1,395.68, indicating a -3.08% monthly decrease. However, on a year-on-year basis, it increased by 34.42% from N1,006.33 in November 2022.
The NBS clarified that the Transport Fare Watch for November 2023 encompasses various categories, including bus journeys within the city per drop constant route, bus journeys intercity (state route) charge per person, airfare charges for specified routes in a single journey, journeys by motorcycle (Okada) per drop, and waterway passenger transport.
The report also highlights that the average fare paid by commuters for bus journeys within the city per drop declined by -6.23%, dropping from N1,117.30 in October to N1,047.63 in November 2023. On a year-on-year basis, it saw a significant rise of 64.44%, up from N637.10 in November 2022.