Airfares rise by 34% in last 12 months

Airfares rise by 34% in last 12 months - NBS

Nigerians are now paying more to travel by air, with average ticket costs having increased by 34.06% over the previous 12 months.

According to the most recent report from the National Bureau of Statistics (NBS), commuter bus tickets increased by 11.66% over the same time period, from N55,906.86 in May 2022 to N74,948.78 in May 2023.

NBS said that its data on transportation includes bus trips within cities for a fixed price per drop, bus trips between cities for a fixed price per person, air fares for single trips on certain routes, motorcycle trips for a fixed price per drop, and canal passenger transit.

They added: "The average fare paid by commuters for bus journeys within the city per drop increased by 0.23% in May 2023 when N649.59 was recorded relative to N648.12 in April 2023. On a year-on- year basis, the average fare paid rose by 11.66% from N581.79 in May 2022.

"In another category, the average fare paid by commuters for bus journey intercity per drop in May 2023 was N4,002.16, indicating an increase of 0.19% on a month-on-month basis compared to the N3,994.51 recorded in April 2023. On a year-on-year basis, this rose by 9.09% from N3,668.64 in May 2022," the NBS report reads.

The average fare paid by air passengers according to the report for specified routes and single journeys increased by 0.002% on a month-on-month basis from N74,947.30 in April 2023 to N74,948.78 in May 2023.

"On a year-on-year basis, the fare rose by 34.06% from N55,906.86 in May 2022. The average fare paid on Okada transportation in May 2023 was N464.55, a 0.49% increase from the rate recorded in April 2023 (N462.29)."

It was also revealed by NBS that motorcycle fares rose by 11.30% when compared with the value in May 2022 which was N417.39, also revealing average fare paid for water transport (waterway passenger transportation) in May 2023 stood at N1,045.15, showing an increase of 1.39% from N1,030.83 in April 2023. This is an increase of 10.99% from N941.63 in May 2022.

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