Cost of Transportation in Nigeria Declines in February – Report

Last updated Mar 26, 2023

Cost of transportation in Nigeria declined in February, the National Bureau of Statistics has said.

This decline comes amid the persistent cash scarcity witnessed recently in the country, despite the month of February being one popular for travel due to the general elections.

In it’s Transport Fare Watch for February 2023, the NBS said it covered air, land and sea transport.

“Transport Fare Watch for February 2023 covers the following categories: bus journey within the city per drop constant route; bus journey intercity (state route) charge per person; air fare charge for specified routes single journey; journey by motorcycle (Okada) per drop; and water way passenger transport.”

The report said the average fare paid by commuters for bus journeys within the city per drop decreased by 0.47% in February 2023 to N647.66 from N650.70 in January 2023.

On a year-on-year basis, the average fare paid rose by 26.07% from N513.72 in February 2022.

In another category, the average fare paid by commuters for bus journey intercity per drop declined to N3,990.70 in February 2023, indicating a growth rate of – 0.19% on a month-on-month basis compared to the N3,998.42 in January 2023.

“On a year-on-year basis, this rose by 4.02% from N3,836.45 in February 2022,” it said.

Air Travel

In air travel, the NBS said the average fare paid by air passengers for specified routes single journey, decreased by 0.18% on a month-on-month basis from N74,702.70 in January 2023 to N74,571.62 in February 2023.

“On a year-on-year basis, the fare rose by 66.36% from N44,825.04 in February 2022. The average fare paid on Okada (motorcycle) transportation was N461.28 in February 2023, which was 1.07% lower than the rate recorded in January 2023 (N466.25).

On a year-on-year basis, the fare rose by 21.67% when compared with February 2022 (N379.12).

In addition, the average fare paid for water transport (waterway passenger transportation) in February 2023 “stood at N1,029.47, showing an increase of 12.74% on a year-on-year basis from N913.13 in February 2022. On a month-on-month basis, it declined by 0.33% from N1,032.84 in January 2023,” it added.

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Transportation Watch