Okada fares hit 258% in four years – NBS

Bisola David
Bisola David
Okada fares hit 258% in four years - NBS

The average okada (motorcycle) fare increased by 258.2% between May 2019 and May 2023.

This information was from the National Bureau of Statistics’ Transport Fare Watch which states that between May 2019 and May 2023, the average fare for okada rides increased from N129.69 to N464.55.

The average fare paid on Okada transport in May 2023 was N464.55, a 0.49 percent rise from the rate reported in April 2023 (N462.29), according to the statistics for that month. The fare increased by 11.30% annually in comparison to the amount in May 2022, which was N417.39.”

The survey also revealed that Edo had the lowest okada fares, while Kwara had the highest.

“Also, Kwara State had the highest motorcycle transport fare in May 2023 with N760.00, followed by Lagos with N750.04, while the least fare was recorded in Edo with N158.05.” it stated.

With the removal of the fuel subsidy, it is predicted to raise the average cost of okada rides.

The average transport fare paid on motorbikes increased by 36.75 percent year over year in January 2023 as Nigerians battled a shortage of naira brought on by the Central Bank of Nigeria’s currency redesign program as well as fuel scarcity.

Share this Article
Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *