The National Bureau of Statistics (NBS) has released its latest Transport Fare Watch Report for June 2024, showcasing a mixed landscape in transportation costs across Nigeria. The report reveals a notable decrease in intra-city bus fares, while costs for intercity bus travel and air travel continue to rise.
Key Highlights
- Bus Journey within the City:
- June 2024 Fare: ₦963.58
- Monthly Change: Decrease of 1.28% from ₦976.08 in May 2024
- Annual Change: Decrease of 26.23% from ₦1,306.22 in June 2023
- Intercity Bus Journey:
- June 2024 Fare: ₦7,029.23
- Monthly Change: Decrease of 0.52% from ₦7,129.46 in May 2024
- Annual Change: Increase of 24.72% from ₦5,686.49 in June 2023
- Air Travel:
- June 2024 Fare: ₦89,886.84
- Monthly Change: Increase of 0.51% from ₦89,432.43 in May 2024
- Annual Change: Increase of 14.18% from ₦78,721.62 in June 2023
- Motorcycle (Okada) Rides:
- June 2024 Fare: ₦477.49
- Monthly Change: Increase of 0.84% from ₦473.51 in May 2024
- Annual Change: Decrease of 22.80% from ₦618.52 in June 2023
- Waterway Passenger Transport:
- June 2024 Fare: ₦1,409.33
- Monthly Change: Increase of 1.69% from ₦1,385.95 in May 2024
- Annual Change: Increase of 3.16% from ₦1,366.22 in June 2023
State-Specific Analysis
- Intercity Bus Travel:
- Highest Fare: Anambra (₦9,450.67)
- Lowest Fare: Kwara (₦5,510.00)
- City Bus Journey:
- Highest Fare: Taraba (₦1,451.67)
- Lowest Fare: Abia (₦500.70)
- Air Travel:
- Highest Fare: Rivers (₦97,500.00)
- Lowest Fare: Plateau (₦80,166.67)
- Motorcycle Rides:
- Highest Fare: Lagos (₦855.67)
- Lowest Fare: Anambra (₦282.12)
- Waterway Transport:
- Highest Fare: Bayelsa (₦4,550.21)
- Lowest Fare: Borno (₦445.76)
Regional Analysis
- Bus Journeys within the City:
- Highest Fare: South-West (₦992.62)
- Lowest Fare: South-East (₦911.72)
- Intercity Bus Travel:
- Highest Fare: South-South (₦7,604.90)
- Lowest Fare: North-Central (₦6,797.25)
- Air Travel:
- Highest Fare: North-West (₦92,262.00)
- Lowest Fare: North-Central (₦85,047.73)
- Motorcycle Rides:
- Highest Fare: South-West (₦541.19)
- Lowest Fare: North-West (₦430.08)
- Waterway Transport:
- Highest Fare: South-South (₦3,582.30)
- Lowest Fare: North-East (₦785.72)
City Bus Rides: Fare Drops Noticed
Intra-city bus commuters have reason to cheer as fares decreased to an average of ₦963.58 in June 2024, down by 1.28 per cent from May’s ₦976.08. This marks a significant 26.23 per cent reduction compared to June 2023, when the fare was ₦1,306.22.
The highest intra-city fare was recorded in Taraba at ₦1,451.67, while Abia enjoyed the lowest at ₦500.70.
Intercity Bus Travel: Rising Costs
Contrarily, intercity bus travel has become costlier, with fares rising to ₦7,029.23, reflecting a 24.72 per cent year-on-year increase from ₦5,686.49 in June 2023.
Also Read: Train travel rose by 52.88% in Q1 2024 as more Nigerians opted for rail transport – NBS
The month-on-month decrease of 0.52 per cent from May 2024’s ₦7,129.46 offers slight relief. Anambra reported the highest fare for intercity travel at ₦9,450.67, while Kwara had the lowest at ₦5,510.00.
Sky-High Air Travel
Air travel continues to soar, with fares averaging ₦89,886.84 in June 2024, a 0.51 per cent increase from May and a 14.18 per cent jump from June 2023. Rivers State had the highest airfares at ₦97,500.00, and Plateau the lowest at ₦80,166.67. These hikes mirror the rising operational costs and demand in the aviation sector.
Motorcycle (Okada) Rides: Mixed Trends
Motorcycle fares edged up by 0.84 per cent to ₦477.49 from May 2024’s ₦473.51 but are down 22.80% from ₦618.52 in June 2023. Lagos topped the list with the highest average fare of ₦855.67, while Anambra recorded the lowest at ₦282.12.
Waterway Transport: Steady Increases
Fares for waterway transport showed a moderate increase to ₦1,409.33, up 1.69 per cent from May and 3.16 per cent from June 2023. Bayelsa’s fares were the highest at ₦4,550.21, and Borno’s the lowest at ₦445.76.
Regional Variations: A Closer Look
The South-West region led with the highest intra-city bus fares at ₦992.62, while the South-East had the lowest at ₦911.72.
For intercity travel, the South-South region topped the charts with an average fare of ₦7,604.90, contrasted by the North-Central’s lower fare of ₦6,797.25.
In air travel, the North-West had the highest fares at ₦92,262.00, and the North-Central the lowest at ₦85,047.73. South-West motorcycle fares were highest at ₦541.19, and the North-West had the lowest at ₦430.08.
The South-South dominated waterway fares with ₦3,582.30, while the North-East had the most affordable at ₦785.72.
Implications and Insights
The June 2024 Transport Fare Watch Report underscores the complexity and variability in Nigeria’s transportation costs. Factors such as fuel prices, regional economic conditions, and regulatory changes play pivotal roles in these fluctuations. Commuters, policymakers, and transport operators must navigate these changes carefully to adapt to the evolving economic landscape.
