Air travel costs up by 19%, intercity bus fares skyrocket by 78% year-on-year – NBS

The National Bureau of Statistics (NBS) has released its Transport Fare Watch report for April 2024, detailing the cost trends across various modes of transportation within the country.

The report encompasses data on bus journeys within cities, intercity bus journeys, air travel, motorcycle (Okada) transport, and waterway passenger transport.

This report highlights both monthly and yearly changes in transport fares, reflecting the economic pressures and shifts in consumer behaviour over the past year.

Key Highlights:

1. Bus Journeys Within Cities:
   • The average fare for bus journeys within cities experienced a slight decrease of 0.16 per cent, falling from N969.32 in March 2024 to N967.76 in April 2024. Despite this monthly decrease, the fare saw a significant year-on-year increase of 49.32 per cent from N648.12 in April 2023.
2. Intercity Bus Journeys:
   • The average fare for intercity bus journeys per person decreased by 0.43 per cent on a month-to-month basis, from N7,152.97 in March 2024 to N7,122.57 in April 2024. On a year-on-year basis, the fare surged by 78.31 per cent, up from N3,994.51 in April 2023.
3. Air Travel:
   • The average fare for air travel on specified routes rose slightly by 0.25 per cent from N88,968.52 in March 2024 to N89,189.19 in April 2024. Compared to April 2023, there was a notable increase of 19.00 per cent, with fares previously at N74,947.30.
4. Motorcycle (Okada) Transport:
   • The average fare for motorcycle transport increased by 0.92 per cent from N472.16 in March 2024 to N476.49 in April 2024. Year-on-year, this represented a modest increase of 3.07 per cent from N462.29 in April 2023.
5. Waterway Passenger Transport:
   • For water transport, the average fare saw a marginal monthly increase of 0.12 per cent, moving from N1,384.32 in March 2024 to N1,385.95 in April 2024. On a yearly comparison, the fare increased significantly by 34.45 per cent, up from N1,030.83 in April 2023.

Regional Analysis:

• Highest Intercity Bus Fare: Anambra State recorded the highest fare at N9,600, followed by Abia and Gombe states at N8,300.
• Lowest Intercity Bus Fare: The lowest fare was in Kwara State at N5,500, followed by Ebonyi State at N5,600.
• City Bus Fares: The highest bus fare within cities was in Taraba State at N1,450, while Abia had the lowest at N500.
• Air Travel: Kano had the highest air transport fare at N96,500, followed closely by Ogun at N95,500. The lowest was in Abia at N72,000.
• Motorcycle Fares: Lagos State had the highest motorcycle transport fare.

Analysis:

The data indicates significant inflationary pressures across all modes of transportation, with year-on-year increases outpacing monthly changes. The marked rise in intercity bus fares and air travel costs highlights the strain on commuters, potentially impacting mobility and economic activity. The regional disparities also underscore the varying economic conditions across Nigeria’s states, influencing local transportation policies and economic planning.