Emmanuel OchayiReport released by the National Bureau of Statistics (NBS), reveals that intercity bus travel expenses surged by 61.27% in November compared to the same period last year, hitting an average of N6,206.53 per drop.
The report highlighted a 5.45% month-on-month increase from October 2023. According to the report, air travel costs also rose, with passengers paying an average of N81,334.05 for specified routes, marking an 11.01% increase from November of the prior year.
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“The average fare paid by commuters for bus journey intercity per drop was N6,206.53 in November 2023, indicating an increase of 5.45% on a month-on-month basis compared to N5,885.68 in October 2023,” the report stated.
Commenting on the trends, an NBS representative emphasized, “This surge in transportation costs mirrors the ongoing economic shifts and challenges faced by commuters.”
Additionally, the report unveiled fluctuations in other transport sectors: a 6.23% drop in the average fare for city bus travel per drop from October to November, juxtaposed with 64.44% year-on-year increase.
Okada transportation witnessed a 6.74% decline in November 2023 compared to October, yet experienced a 3.07% rise from the same period last year.
Moreover, water transport demonstrated a decrease of 3.08% month-on-month, while showing 34.42% increase from November 2022, emphasizing the dynamic changes across various transportation modes.
“This data signals the need for an in-depth examination of factors contributing to these cost fluctuations, highlighting potential economic implications,” added the NBS representative.
The report serves as a crucial indicator of the evolving economic landscape, shedding light on the intricate fluctuations within the transportation sector, impacting both commuters and industry stakeholders.
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