The average fare paid by air passengers for specified routes on a single journey experienced a significant increase, reaching N123,700.14.
This figure represents a 25.51% increase compared to the N98,560.28 average fare recorded in July 2024, indicating a substantial rise in travel costs within just one month.
In a report released by the Nigeria Bureau of Statistics on Tuesday, airfares increased by 56.56% year-on-year, rising from N79,011.38 in August of last year.
This sharp hike has made air travel significantly more expensive for commuters.
In contrast, the average fare for bus journeys within cities decreased to N869.35 in August 2024, marking a 7.77% decline from N942.61 in July 2024.
On a year-on-year basis, bus fares fell by 34.95% from N1,336.38 in August 2023. This decline is likely due to easing inflationary pressures on city transportation, making it more affordable for commuters.
For intercity bus journeys, the average fare rose slightly by 0.59 per cent, reaching N7,159.00 in August 2024, compared to N7,117.17 in July this year. On an annual basis, the fare increased by 20.97 per cent, up from N5,918.18 in August 2023, reflecting rising operational costs for transport companies.
Meanwhile, commuters using motorcycles, commonly known as Okada, saw an increase in fares. The average fare for a single drop in August 2024 rose to N524.22, an 8.46% increase from N483.33 in July 2024.
However, compared to August 2023, this fare decreased by 18.87% from N646.12, indicating fluctuating costs in motorcycle transportation.
Waterway transportation, often used in riverine areas, also saw a fare hike. The average fare paid for waterway passenger transport rose to N1,449.34 in August 2024, an increase of 3.30 per cent from N1,402.95 in July 2024. On a year-on-year basis, the fare rose by 3.03 per cent from N1,406.74 recorded in August 2023.
Overall, while some categories of transport fares have seen declines, the substantial increases in air and intercity transport costs indicate ongoing inflationary pressures affecting longer-distance travel.
This trend highlights the complex landscape of transportation expenses for commuters.
