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Airfare rises by 18.96% in 12 months, says NBS
The National Bureau of Statistics (NBS) said the average airfare passengers paid in 12 months rose by 18.96%.
According to the Bureau in its document titled: “Transport Fare Watch for March 2024,” the fare increased from N74,782.43 in March 2023 to N88,964.86 in March 2024.
The data also noted that the fare soared by 1.10% every month.
“In air travel, the average fare paid by air passengers for specified routes single journey was N88,964.86 in March 2024, indicating an increase of 1.10% compared to the previous month (February 2024).
“On a year-on-year basis, the fare rose by 18.96% from N74,782.43 in March 2023,” said NBS.
The document explained that the Transport Fare Watch for March 2024 covers the following categories: bus journey within the city per drop constant route; bus journey intercity (state route) charge per person; air fare charge for specified routes single journey; journey by motorcycle (Okada) per drop; and water way passenger transport.
It further noted that the average fare paid by commuters for bus journeys within the city per drop increased to 1.85% from N951.76 in February 2024 to N969.32 in March 2024.
NBS said on a year-on-year basis, it rose by 49.55% from N648.16 in March 2023. In another category, the average fare paid by commuters for bus journey intercity per drop was N7,152.97 in March 2024, showing an increase of 2.14% on a month-on-month basis compared to N7,002.97 in February 2024. On a year-on-year basis, the fare rose by 79.17% from N3,992.36 in March 2023.
The data further said the average transport fare paid on Okada transportation was N472.16 in March 2024 which increased by 0.92% when compared with the value recorded in February 2024 (N467.84).
On a year-on-year basis, according to NBS, the fare increased by 2.15% when compared with March 2023 (N462.21).
It said for water transport (waterway passenger transportation), the average fare paid in March 2024 declined to N1,384.32 from N1,395.81 which indicates a decrease of 0.82% every month.
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