Nigerian Domestic Airfares Soar By 66% In 2022 – NBS

According to the NBS’s most recent report, “Transport Fare Watch (February 2023),” the average fare paid by air travelers for a single voyage on the indicated routes declined by 0.18 percent on a monthly basis from N74,702.70 in January 2023 to N74,571.62 in February 2023.

Nonetheless, it increased from N44,825.04 in February 2022 by 66.36 percent annually.

The survey also revealed that although the average fare for commuter bus trips within cities climbed on an annual basis, it declined by 0.47 percent in February 2023 to N647.66 from N650.70 in January 2023.but on a year-on-year basis, the average fare rose by 26.07 per cent from N513.72 in February 2022.

For bus intercity per drop, the average fare paid by commuters dropped by 0.19 per cent on a month-on-month basis or N3,990.70 in February 2023, compared to N3,998.42 in the previous month. On a year-on-year basis, this increased by 4.02 per cent from N3,836.45 in the same period last year.

The average fare paid on Okada transportation, according to the NBS, was N461.28 in February 2023, which was 1.07 per cent lower than the rate recorded in January.

“On a year-on-year basis, the fare rose by 21.67 per cent when compared with February 2022 (N379.12). In addition, the average fare paid for water transport (waterway passenger transportation) in February 2023 stood at N1,029.47, showing an increase of 12.74 per cent on a year-on-year basis from N913.13 in February 2022. On a month-on-month basis, it declined by 0.33 per cent from N1,032.84 in January 2023,” the report added.