Airfare rises by 34.06% in one year, says NBS

From May 2022, airfare paid by air passengers for a single journey rose by 34.06% in May 2022 from N55,906.86 to N74,948.78 in May 2023.

The National Bureau of Statistics (NBS) made this known in its “Transport Fare Watch May 2023.”

It said on month -on -month basis, the fare soared by 0.002% from N74,947.30 in April 2023.

NBS said: “On a year-on-year basis, this rose by 9.09% from N3,668.64 in May 2022. In air travel, the average fare paid by air passengers for specified routes single journey 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 report said 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 added that on a year-on-year basis, the fare rose by 11.30% when compared with the value in May 2022 which was N417.39.