Business

Bus Fare In Nigeria Cities Soared By 98% Due To Fuel Hike – NBS

According to the NBS, on a year-on-year basis, bus fares rose by 120.63 per cent from N582.61 paid by commuters in June 2022.

Published

11 months ago

August 15, 2023

VerseNews

Bus transportation

The National Bureau of Statistics (NBS) has revealed that transportation fare in the country for June 2023 increased by 98% due to the removal of subsidy on fuel in May 29 which led to the hike in the commodity.

VerseNews reports that the NBS in its monthly report revealed that bus transportation in Nigerian cities rose from N649.59 in May 2023 to N1,285.41 in June 2023 due to hike in fuel.

According to the NBS, on a year-on-year basis, bus fares rose by 120.63 per cent from N582.61 paid by commuters in June 2022.

To this, fares for commuters on bus journey in intercity drop rose to N5,686.49 in June 2023 compared to N4,002.16 in May 2023 indicating an increase of 42.09 per cent on a month-on-month basis.

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“The average fare paid by commuters for bus journeys within the city per drop increased by 97.88 per cent from N649.59 in May 2023 to N1,285.41 in June 2023. On a year-on-year basis, it rose by 120.63 per cent from N582.61 in June 2022,” NBS stated.

“In another category, the average fare paid by commuters for bus journey intercity per drop rose to N5,686.49 in June 2023, indicating an increase of 42.09 on a month-on-month basis compared to N4,002.16 in May 2023. On a year-on-year basis, the fare rose by 55.25 per cent from N3,662.87 in June 2022.”