In the transport fare watch for the month of October 2023, the average fare for bus journeys within the city per drop decreased by 16.48%, falling from N1,337.80 in September to N1,117.30 in October 2023.
On a year-on-year basis, it increased by 75.45%, rising from N636.83 in October 2022.
In a different category, the average fare paid by commuters for intercity bus journeys per drop decreased to N5,885.68 in October 2023, reflecting a month-on-month decline of 0.53% compared to N5,917.16 in September 2023.
On a year-on-year basis, the fare increased by 53.04%, rising from N3,845.81 in October 2022.
For Okada transportation, the average fare paid was N507.30 in October 2023, marking a 21.51% decrease from the recorded value in September 2023 (N646.29). On a year-on-year basis, the fare increased by 10.75% when compared to October 2022 (N458.05).
Air transport
In air travel, the average fare for a single journey on specified routes was N78,778.38 in October 2023, indicating a 0.30% decrease compared to the previous month (September 2023). On a year-on-year basis, the fare increased by 7.62%, rising from N73,198.65 in October 2022.
Water transport cost
For water transport, specifically waterway passenger transportation, the average fare paid in October 2023 decreased to N1,395.68 from N1,406.84, reflecting a monthly contraction of 0.79%. On a year-on-year basis, it increased by 38.70% from N1,006.22 in October 2022.
Analysis by geopolitical zones
In the analysis by geopolitical zone for October 2023, the transport fares for bus journeys within the city were highest in the South-South at N1,216.67, followed by the North-West at N1,155.00, while the South-West recorded the lowest at N1,026.67.
In terms of bus journeys intercity, the South-East had the highest fare at N6,270.00, followed by the North-East at N6,123.33, with the North-Central recording the lowest at N5,430.00.
