In contrast, city bus fares dropped by 7.77 per cent to N869.35 in August 2024, compared to N942.61 in July 2024. Year-on-year, fares have plummeted by 34.95 per cent from N1,336.38 in August 2023.
The latest data from the Nigeria Bureau of Statistics (NBS) reveals that air travel costs surged in August 2024, with passengers paying an average fare of N123,700.14 for specified routes.
This marks a 25.51 per cent increase from N98,560.28 in July 2024.
The report further indicated that on a year-on-year basis, the fare has risen by 56.56 per cent, up from N79,011.38 in August 2023, making air travel significantly more expensive for commuters.
In contrast, city bus fares dropped by 7.77 per cent to N869.35 in August 2024, compared to N942.61 in July 2024. Year-on-year, fares have plummeted by 34.95 per cent from N1,336.38 in August 2023.
Intercity bus fares saw a slight increase of 0.59 per cent, rising to N7,159.00 in August 2024, up from N7,117.17 in July 2024. Year-on-year, intercity fares jumped by 20.97 per cent from N5,918.18 in August 2023, reflecting higher operational costs.
Motorcycle commuters also experienced a fare hike, with the average fare for a single drop in August 2024 standing at N524.22, up 8.46 per cent from N483.33 in July 2024. However, compared to August 2023, fares have dropped by 18.87 per cent from N646.12.
Waterway transport fares also increased, reaching N1,449.34 in August 2024, a 3.30 per cent rise from N1,402.95 in July 2024. On a year-on-year basis, the fare rose by 3.03 per cent from N1,406.74 in August 2023.
Despite some fare declines, the increase in air and intercity transport costs continues to reflect inflationary pressures on long-distance travel.
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