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Business News of Monday, 19 October 2020

Source: economicconfidential.com

Average transport fare increases in September – NBS

Transport fare to increase in September Transport fare to increase in September

Average transport fares across the modes of transportation have increased considerably.

This is according to the Transport Fare Watch data for September 2020 provided by the National Bureau of Statistics.

The NBS said the average fare paid by commuters for bus journey within the city increased by 7.92 per cent month-on-month and by 63.88 per cent year-on-year to N309.73 in September 2020 from N86.99 in August 2020.

Similarly, the average fare paid by commuters in intercity buses increased by 0.36 per cent month-on-month and by 24.30 per cent year-on-year to N2,022.70 in September 2020 from N2,015.50 in August 2020.

The statistics office ranked the states with the highest bus journey fare within city as Zamfara with N579.84; Bauchi, N492.14; and Cross River, N416.32 while states with lowest bus journey fares within city were Abia N188.50; Kebbi, N192.48; and Borno N200.80.

Also, states with the highest bus journey fare intercity were the FCT N4,315.22; Lagos N3,073 and Sokoto N3,000; while states with lowest bus journey fare within city were Kwara N223.45; Benue N274.64; and Ondo N291.07

According to the report, the average fare paid by air passengers for specified routes on a single journey decreased by 4.59 per cent month-on month and increased by 20.60 per cent year-on-year to N36,884.59 in September 2020 from N38,659.86 in August 2020.