The average domestic airfare paid by passengers has seen a significant increase of 94.78 percent over the past 12 months, according to data from the National Bureau of Statistics (NBS). This rise in airfares has occurred amidst various challenges facing the local aviation industry. In its report titled “Transport Fare Watch (January 2023),” the NBS noted that airfares experienced a month-on-month increase of 0.16 percent, rising from an average of N74,586.49 in December 2022 to N74,702.70 in January 2023. Year-on-year, the fare surged from N38,352.19 in January 2022.
The report also highlighted changes in bus fares. The average fare for bus journeys within the city per drop increased by 0.94 percent in January 2023, moving from N644.66 in December 2022 to N650.70. When compared year-on-year, this fare rose by 36.59 percent from N476.39 in January 2022. Additionally, the average fare for intercity bus journeys per drop reached N3,998.42 in January 2023, reflecting a month-on-month increase of 0.68 percent from N3,971.22 in December 2022. Year-on-year, this fare rose by 42.73 percent from N2,801.34 in January 2022.
In the realm of motorcycle transport, the average fare paid via commercial motorcycle was N466.25 in January 2023, marking a 1.04 percent increase from December 2022, when it was N461.45. Year-on-year, this fare rose by 36.75 percent compared to January 2022, when it was N340.94. Furthermore, the average fare for water transport, specifically waterway passenger transportation, increased to N1,032.84 in January 2023. This represents a year-on-year increase of 16.28 percent from N888.24 in January 2022 and a month-on-month increase of 0.40 percent from N1,028.73 in December 2022.
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