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HomeBusinessDomestic Airfares Skyrocket by 66% in 12 Months, NBS Reports

Domestic Airfares Skyrocket by 66% in 12 Months, NBS Reports

According to the National Bureau of Statistics (NBS), domestic air travel fares in Nigeria have increased by 66.36% in the last year.

In its most recent report titled “Transport Fare Watch (February 2023),” the average fare for air passengers on specified single-journey routes fell by 0.18% month on month, from N74,702.70 in January 2023 to N74,571.62 in February 2023. However, the fare increased by 66.36% year on year, from N44,825.04 in February 2022 to N44,825.04 in February 2022.

The average fare paid by commuters for intra-city bus journeys per drop fell by 0.47% in February 2023 to N647.66, down from N650.70 in January 2023. The average fare increased by 26.07% from N513.72 in February 2022.

Regarding intercity bus journeys per drop, commuters’ average fare decreased by 0.19% month on month to N3,990.70 in February 2023, compared to N3,998.42 the previous month. This figure increased by 4.02% year on year from N3,836.45 during the same period last year.

According to the NBS, the average fare paid for motorcycle (Okada) transportation in February 2023 was N461.28, a 1.07% reduction compared to the rate recorded in January. “On a year-on-year basis, the fare increased by 21.67% compared to February 2022 (N379.12).

Furthermore, the average fare paid for water transport (waterway passenger transportation) in February 2023 stood at N1,029.47, representing a 12.74% increase year-on-year from N913.13 in February 2022. On a month-on-month basis, it declined by 0.33% from N1,032.84 in January 2023,” the report added.



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