Bus fare in Nigeria surges by 78% YoY in February 2021

Fare paid by Nigerian commuters increased from an average of N208.89 recorded in February 2020 to N361.3 in February 2021.

The average fare paid by commuters for a bus journey within the city increased by 78.1% year-on-year in February 2021 to stand at N361.3. This is according to the transport fare watch report, recently released by the National Bureau of Statistics (NBS).

According to the report, the fare paid by Nigerian commuters increased from an average of N208.89 recorded in February 2020 to N361.3 in February 2021. This represents a 78.1% increase in price while it also increased by 2.6% compared to N351.15 recorded in the previous month.

Meanwhile, States with the highest bus journey fare within the city were Zamfara (N620.15), Bauchi (N530.10), and Ekiti (N475.25) while States with the lowest bus journey fare within the city were Oyo (N190.45), Abia (N208.55), and Borno (N250.72).

Also, the average fare paid by commuters for bus journey intercity increased by 1.13% month-on-month and by 39.85% year-on-year to N2,372.87 in February 2021 from N2,346.41 recorded in January 2021.

Average fare paid by air passengers for specified routes single journey decreased by 0.02% month-on-month and increased by 17.97% year-on-year to N36,458.11 in February 2021 from N36,463.65 recorded in the previous month.

The amount paid by Nigerian commuters for journey by motorcycle per drop increased by 2.86% month-on-month and by 97.68% year-on-year to N266.74 in February 2021 from N259.33 recorded in January 2021.

The average fare paid by passengers for waterway passenger transport increased by 1% month-on-month and by 39.63% year-on-year to N794.02 in February 2021 from N786.19 recorded in January 2021.

The latest figure indicates that Nigerians are spending more on transportation despite the spike recorded in the food prices in the country, especially in the south. Nairametrics had reported that core inflation and food inflation rose to 12.38% and 21.79% respectively in February 2021.

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