Transportation costs rise 120.6% YoY, stoked by fuel subsidy removal
By Jeph Ajobaju, Chief Copy Editor
Nigerians have slid down the poverty line with fuel price hikes driving up transportation costs which rose 120.63 per cent in June, sequel to the removal of petrol subsidy on May 29.
Average fare paid by commuters for intra-city travel per drop rose 120.63 per cent year-on-year (YoY) from N582.61 in June 2022 to N1,285.41 in June 2023, the National Bureau of Statistics (NBS) disclosed in its latest report.
It jumped 97.88 per cent month-on-month (MoM) from N649.59 in May 2023 to N1,285.41 in June 2023.
The NBS said average fare paid by commuters for intercity per drop rose to N5,686.49 in June 2023, an increase of 42.09 per cent against N4,002.16 in May 2023.
The fare grew 55.25 per cent YoY from N3,662.87 in June 2022.
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Highest fares by state
According to the NBS, Bauchi recorded the highest bus fare within the city (per drop constant route) in June 2023 with N1,700. It was followed by Jigawa with N1,570.
“On the other hand, Imo State recorded the least with N710, followed by Adamawa with N840,” the NBS added, per reporting by The Guardian.
“For intercity bus travel (state route charged per person fare), the highest fare was recorded in Abuja with N8,500, followed by Anambra with N8,000.”
Average fare paid by air passengers for a specified single journey increased 4.93 per cent from N74,948.78 in May 2023 to N78,640.54 in June 2023.
It rose 40.22 per cent YoY from N56,082.64 in June 2022.
Average transport fare paid on motorcycle taxi transportation was N618.52 in June 2023, or 33.14 per cent higher than N464.55 in May 2023.
The fare rose 48.34 per cent YoY against N416.97 in June 2022
Water transport (waterway passenger transportation) average fare paid in June 2023 increased to N1,366.22 from N1,045.15 in May 2023.
It increased 44.84 percent YoY from N943.26 in June 2022.
Average price of 1kg of yam tubers rose 32.85 per cent YoY from N384.48 in June 2022 to N510.77 in June 2023.
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