Nigerians paid 7.6% more for air travel in October 2023 —NBS

The National Bureau of Statistics (NBS), on Wednesday, disclosed that Nigerians paid more for air travel tickets in October 2023.

The NBS, which disclosed this in its transport fare watch for October 2023, said air travel fares grew year-on-year (YoY) by 7.6 percent to N78,778 in October 2023 from N73,198 in October 2022.

Similarly, transport fares paid by commuters of bus, motorcycle (Okada) per drop; and waterway passenger transport journeys increased during the period.

It however said that on month-on-month (MoM), transport fares declined in all modes of journeys despite the MoM increase in diesel and fuel prices by 12.82 percent and 0.71 percent respectively during the review period.

NBS said: “In air travel, the average fare paid by air passengers for specified routes for a single journey was N78,778.38 in October 2023, showing a decrease of 0.30 percent compared to the previous month (September 2023).

“On a year-on-year (YoY); basis, the fare rose by 7.62 percent from N73,198.65 in October 2022.

“The average fare paid by commuters for bus journeys within the city per drop declined to -16.48 percent from N1,337.80 in September to N1,117.30 in October 2023.

“On a YoY basis, it rose by 75.45 percent from N636.83 in October 2022.

READ ALSO: Cost of air travel within Nigeria jumps by 4.43% in one month, hits N46,000

“In another category, the average fare paid by commuters for bus journey intercity per drop declined to N5,885.68 in October 2023, indicating a decrease of 0.53 percent on a MoM basis compared to N5,917.16 in September 2023.

“On a YoY, the fare rose by 53.04 percent from N3,845.81 in October 2022.

“The average transport fare paid on Okada transportation was N507.30 in October 2023 which was 21.51 percent decrease when compared with the value recorded in September 2023 (N646.29).

“On a YoY basis, the fare rose by 10.75 percent when compared with October 2022 (N458.05).

“For water transport (waterway passenger transportation), the average fare paid in October 2023 decreased to N1,395.68 from N1,406.84 which indicates a contraction of 0.79 percent on a monthly basis.

“On a YoY basis, it increased by 38.7 percent from N1,006.22 in October 2022.”

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