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Sunday, November 27, 2022

Hike in transportation as inter-state bus fare rises by 18%

The cost of travelling inter-city in Nigeria has risen by 18.02% year-on-year in November 2021 to an average of N2,644. This is according to the recently released transportation report by the National Bureau of Statistics (NBS).

This increase is coming at a time when inter-state travelling is in high demand as Nigerians will be travelling from one city to another to visit their families and relatives. According to the report, the highest increase was recorded in the south-south region of the country.

According to the report, the average cost of bus journey intercity in the Southsouth region of Nigeria increased by 22.94% year-on-year compared to the corresponding period of 2020. Specifically, the average cost increased from N1,769 recorded in November 2020 to N2,175 in the period under review.

Meanwhile, intercity bus fare is highest in the Northcentral region of the country at N3,075, followed by the Southwest area at N2,881.

Highlights of the report

  • The average fare paid by commuters for bus journeys within the city per drop increased by 1.46% on a month-on-month basis from N440.09 in October to N 446.50 in November 2021.
  • On the other hand, on a year-on-year basis, the fare rose by 33.74% from N333.86 in November 2020 to N446.5 in November 2021.
  • In the same vein, the average fare paid by commuters for bus journey intercity stood at N2,644.50 in November 2021 indicating an increase of 0.38% on a month-on-month basis when compared to the value of N2,634.46 in October 2021.
  • Also, the November fare also rose by 18.02% on a year-on-year basis from N2,240.66 in the corresponding month of the previous year to N2,644.5 in November 2021.
  • The average fare paid by air passengers for specified routes single journey increased by 0.25% on a month-on-month basis from N36,932 in October to N37,022 in November 2021. On a year-on-year basis, the fare rose marginally by 1.99% from N36,301 in November 2020 to N37,022 in November 2021.

Meanwhile, at the state level for intercity bus travel (state route charged per person fare), the highest fares were recorded in Abuja, Lagos State and Sokoto State at N4,826, N3,558 and N3,500 respectively. The least fares were recorded in Bayelsa State, Bauchi State and Akwa Ibom State with N1,893, N1,945, and N1,991 respectively.

Recall that after the governor of the Central Bank disclosed that most of the roads constructed in the country will be tolled to repay the loans that were used to build them it was predicted that transport costs would increase. He had disclosed this while answering questions after the two-day retreat of the Bankers’ Committee in Lagos.

The Governor of the Central Bank remarked that most other countries’ roads are tolled and Nigeria wouldn’t be left out. He said, “Most of those roads will be tolled and we know that in many other countries in the world, roads are tolled because those projects are commercially viable.”

Why this matters

The Yuletide period is known for increased travel demands across the world as people travel to various destinations to visit families, and relatives. It is also a period where families travel for vacations within and outside the country. The recent increase in transport fare implies that travelling Nigerians will have to pay more this Christmas period.


Source: Nairametrics

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