Local one-way flight ticket price up 7% YoY
By Jeph Ajobaju, Chief Copy Editor
Local one-way flight ticket went up in price 7.6 per cent year-on-year (YoY) from N73,198 in October 2022 to N78,778 in October 2023, according to Transport Fare Watch for October newly released by the National Bureau of Statistics (NBS).
The report shows fare paid by commuters of bus, motorcycle taxi (Okada) per drop; and waterway passenger transport journeys also rose YoY.
The NBS explained, however, road transportation cost reduced month-on-month (MoM) in all modes of journeys despite a 12.82 per cent MoM jump in diesel price and 0.71 per cent MoM rise in petrol price.
“In air travel, the average fare paid by air passengers for specified routes for a single journey was N78,778.38 in October 2023, showing a decrease of 0.30 percent compared to the previous month (September 2023),” it said.
“On a year-on -year (YoY); basis, the fare rose by 7.62 percent from N73,198.65 in October 2022.
“The average fare paid by commuters for bus journeys within the city per drop declined to 16.48 percent from N1,337.80 in September to N1,117.30 in October 2023.
“On a YoY basis, it rose by 75.45 percent from N636.83 in October 2022.”
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Reduction in road transportation costs
“In another category, the average fare paid by commuters for bus journey intercity per drop declined to N5,885.68 in October 2023, indicating a decrease of 0.53 percent on a MoM basis compared to N5,917.16 in September 2023,” the NBS added, per reporting by Vanguard.
“On a YoY, the fare rose by 53.04 percent from N3,845.81 in October 2022.
“The average transport fare paid on Okada transportation was N507.30 in October 2023 which was 21.51 percent decrease when compared with the value recorded in September 2023 (N646.29).
“On a YoY basis, the fare rose by 10.75 percent when compared with October 2022 (N458.05).
“For water transport (waterway passenger transportation), the average fare paid in October 2023 decreased to N1,395.68 from N1,406.84 which indicates a contraction of 0.79 percent on monthly basis.
“On a YoY basis, it increased by 38.7 percent from N1,006.22 in October 2022.”
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