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Airfares rise by 34.06% in one year – NBS

THE National Bureau of Statistics (NBS) has stated that the average fare paid by air passengers for specified routes single travel increased by 34.06% between May 2022 and May 2023.

According to the Bureau’s Transport Fare Watch for May 2023, the average airfare per passenger increased from N74,947.30 in April 2023 to N74,948.78 in May 2023.

“The average fare paid on Okada transportation in May 2023 was N464.55, a 0.49% increase from the rate recorded in April 2023 (N462.29),” the NBS stated.

“On a year-on-year basis, the fare rose by 11.30% when compared with the value in May 2022 which was N417.39.

“In addition, the average fare paid for water transport (waterway passenger transportation) in May 2023 stood at N1,045.15, showing an increase of 1.39% from N1,030.83 in April 2023. On a year-on-year basis, this increased by 10.99% from N941.63 in May 2022.”

The Transport Fare Watch for May 2023 covered 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.

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