No More N5k: Transport Companies Adjust Prices As New Data Shows States With Highest Fares

• Nigerians will enjoy cheaper fares to move from one part of the country to another this festive season
• New data shows a decrease in transportation costs by bus when traveling within the city
• Nigerians who wish to travel to another will be hoping to benefit from a 50% reduction in transport fares for interstate travel

Legit.ng journalist, Dave Ibemere has over a decade of experience covering Tech, Energy, Stocks, Investments, and the Economy.

According to the National Bureau of Statistics (NBS), the average cost of transportation within the city per drop stood at N1,047.63 in November 2023.

This represents a 6.23% decline in transport costs compared to the average N1,117.30 recorded in October 2023.

However, compared to the same month in 2022, the cost of transportation within a state rose by 64.44% from N637.10.

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NBS disclosed this in its latest transport fare watch list report for November, which was released on its website.

In another category, the bureau stated that 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.

While on a year-on-year basis, the fare rose by 61.27% from N3,848.48 in November 2022.

States with the highest, lowest transport costs

The report also provided a breakdown of state residents paid more for travel by bus.

Part of the report reads:

"On state profile analysis, varying fare rates were observed for intercity bus travel on state routes per person. Adamawa, Anambra, and Gombe reported the highest fare at N8,000.00, followed closely by Abuja at N7,550.00.

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"Conversely, Zamfara recorded the lowest fare at N4,000.00, with Kwara following closely at N4,500.00.

"In November 2023, Taraba state had the highest recorded bus journey within the city on a per-drop constant route, charging N1,500.00, followed closely by Bauchi at N1,450.00. In contrast, Adamawa state had the lowest at N650.00, followed by Sokoto at N750.00."

FG’s 50% interstate travel rebate

Nigerians planning to travel outside their home state during this festive season have a reason to rejoice.

Legit.ng reported that the Nigerian government has announced it will provide a 50% discount on interstate travel fares and free commuter rides on all rail lines from December 20, 2023, to January 4, 2024.

To benefit, Nigerians must use the selected transport firms, which include God is Good Motors (GIGM), Young Shall Grow, God Bless Ezenwata, Chisco Transport, Area Motor and ABC.

The transport companies listed have begun implementation and slashed prices by 50% for commuters.

Source: Legit.ng