NBS: Transport Fare Moderated 18.72% YOY in October Despite Fuel Price Hike

Despite the increase in the fuel pump price, the National Bureau of Statistics (NBS) has stated that there was a drop in the price of transportation fare in October year-on-year (YoY).

The NBS in its transport fare report said the drop was experienced in comparison to prices paid in October 2023.

According to the bureau, the average fare paid by commuters for bus journeys within the city per drop increased to 0.98 per cent from N899.31 in September 2024 to N908.15 in October 2024. On a year-on year basis, it declined by 18.72 per cent   from N1,117.30 in October 2023.

The average fare paid by commuters for bus journeys within the city per drop increased to 0.98 per cent   from N899.31 in September 2024 to N908.15 in October 2024. On a year-on year basis, it declined by 18.72 per cent   from N1,117.30 in October 2023.

In another category, the average fare paid by commuters for bus journey intercity per drop was N7,187.62 in October

2024, indicating an increase of 0.18 per cent   on a month-on-month basis compared to N7,175.06 in September 2024. On a year-on-year basis, the fare rose by 22.12 per cent   from N5,885.68 in October 2023.

For air travel, the average fare paid by air passengers for specified routes single journey was N126,293.05 in October 2024, indicating an increase of 1.28 per cent compared to previous month (September 2024). On a year-on -year basis, the fare rose by 60.31 per cent   from N78,778.38 in October 2023.

The average transport fare paid on Okada transportation was N535.98 in October 2024 which shows an increase of 0.75 per cent   when compared with the value recorded in September 2024 (N532.00). On a year-on-year basis, the fare increased by 5.65 per cent   when compared with October 2023 (N507.30).

For water transport (waterway passenger transportation), the average fare paid in October 2024 was N1,478.09 which indicates an increase of 0.67 per cent   on monthly basis. On a year-on-year basis, it increased by 5.90 per cent   from N1,395.68 in October 2023.

On state profile analysis, for intercity bus travel (state route charged per person fare), the highest fare was recorded in Anambra with N9,589.96, followed by Gombe with N8,345.26. The least fare was recorded in Kwara with N5,588.74, followed by Ebonyi with N5,616.74. Taraba state recorded the highest bus journey within the city (per drop constant route) in October 2024 with N1,161.86 followed by Zamfara with N1,148.01. On the other hand, Adamawa recorded the least with N451.85, followed by Abia with N455.05. Similarly, Oyo recorded the highest air transport charges for specified routes single journeys) with N129,440.66, followed by Anambra with N129,412.24. Conversely, Ekiti recorded the least fare with N121,388.11, followed by Nasarawa with N122,802.18. Also, Lagos State had the highest motorcycle transport fare in October 2024 with N929.04, followed by Ondo with N772.60. Anambra recorded the least fare with N320.90, followed by Bayelsa with N321.36. Similarly, water transport fare was highest in Bayelsa with N4,575.37, followed by Delta with N4,268.33, while the least fare was recorded in Borno with N477.75, followed by Gombe with N629.56.

For Analysis by zone in October 2024, transport fares of bus journeys within the city recorded the highest in the South- West with N949.48, followed by South-South with N931.94, while the North-East recorded the least with N873.60.

In terms of bus journey intercity, the South-South had the highest fare with N7,681.73 followed by the South-East with

N7,378.71, while North-Central recorded the least with N6,912.04.

Air transportation in October 2024, the South-East recorded the highest fare with N127,189.61, followed by the South- West with N126,732.40 while the South-South had the least with N125,686.78.

Also, commuters on a motorcycle (Okada) paid the highest fare in the South-West with N606.20 and North-East with N568.53, while the North-West recorded the least with N496.53.

The South -South zone had the highest fare on water transport with N3,624.02, followed by the South-West with N1,456.82, while the North-East had the least with N844.76.