Intercity bus fares across Nigeria surged in July 2024, driven by rising fuel costs, as reported by the National Bureau of Statistics (NBS). According to the latest Transport Fare Watch report, significant increases in the price of petrol and diesel fueled a sharp rise in transportation costs nationwide.
The report highlights data on various transportation categories, including intercity bus fares, intracity bus fares, air travel charges, motorcycle (Okada) fares, and waterway passenger transport fees.
For intercity bus travel, the average fare per passenger jumped by 20.23%, reaching N7,117.17 in July 2024, compared to N5,919.49 in July 2023. On a month-on-month basis, the average fare also experienced a slight uptick of 0.35%, rising from N7,092.03 in June 2024.
This increase is directly attributed to a sharp rise in fuel prices, with diesel prices soaring by 73.63% to N1,379.48 per litre in July 2024 from N794.48 in July 2023. Similarly, petrol prices rose by 28.35%, reaching N770.54 per litre, up from N600.35 in the previous year.
Anambra State recorded the highest intercity bus fare at N9,566.89, followed by Gombe State at N8,299.44. Meanwhile, Kwara State had the lowest average fare at N5,518.38, with Ebonyi State close behind at N5,596.1.
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Contrary to the intercity trends, intracity bus fares declined by 2.18%, falling from N963.58 in June 2024 to N942.61 in July 2024. On a year-on-year basis, the fare dropped by 29.46%, down from N1,336.29 in July 2023.
Airfares also saw an increase, with the average price for a single journey on specified routes rising by 9.65% to N98,561.74 in July 2024, up from N89,921.15 in June 2024. This marked a significant 25.12% increase compared to N78,775.74 in July 2023.
Motorcycle (Okada) transport fares rose marginally by 1.22% to N483.33 in July 2024 from N477.49 in June 2024, though fares dropped substantially on a year-on-year basis by 25.20% from N646.12 in July 2023.
In contrast, waterway passenger transport saw a slight decline in fares. The average fare decreased by 0.44% to N1,403.06 in July 2024 from N1,406.70 in June 2024. Year-on-year, waterway fares fell by 0.26%.
The report underscores the ongoing impact of rising fuel prices on the cost of transportation across Nigeria, particularly for intercity travel, while other modes of transportation have experienced mixed trends in fares.
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