'Inter-city bus fares rise by over 20%' - NBS reveals

The National Bureau of Statistics Transport Fare Watch report has indicated that the cost of intercity bus journeys paid by passengers per drop increased by 6.72 per cent to N963.38 in January 2024 from N902.70 in December 2023.

According to the bureau, the average fare paid by commuters for bus journeys within the city per drop rose by 0.94 per cent to N650.70 in January on a month-on-month basis from N644.66 in December 2023.

On a year-on-year basis, it increased by 48.03 per cent from N650.80 in January 2023.

The average transport fare paid on Okada transportation was N456.22 in January 2024, which rose by 8.69 per cent when compared with N419.73 recorded a month prior.

The report said: “On a year-on-year basis, the fare declined by 2.15 per cent when compared with January 2023 (N466.25).”

It showed that in January this year, waterway passenger transportation saw an average fare increase to N1,402.84 from N1,386.76, marking a 1.16 per cent monthly rise.

Year-on-year, it represented a 35.82 per cent increase from N1,032.84 in January 2023.

The removal of the petrol subsidy by President Bola Tinubu at the end of May 2023 has adversely affected transport fares across the country.