Okada Riders Slash Fares Despite Rising Fuel Price, Cheapest in 10 States
- Motorcycle operators, commonly known as Okada riders, across Nigeria reduced their fares despite rising petrol costs
- Okada is a significant mode of intra-city transport for students, workers, and every other Nigerian
- The rising cost of transportation has become an additional burden for Nigerians, similar to the increasing food prices
Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
The National Bureau of Statistics (NBS) has revealed that the average transport fare paid on Okada transportation was N473.51 in May 2024.
The amount is a decline of 0.62% when compared with the value recorded in April 2024 which was N476.49.
Source: Getty Images
While on a year-on-year basis, the fare for May 2024 increased by 2.45% when compared with May 2023 (N462.18).
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NBS disclosed the figures in its latest price watch report published on its website.
Breakdown of Okada fares in Nigeria
The bureau also provided a state profile analysis revealing that Lagos State unsurprisingly had the highest motorcycle transport fare in May 2024 with N850.00, followed by Ondo with N700.00.
While Bayelsa recorded the least fare with N285 followed by Anambra and Niger with N300.
For Analysis by zone in May 2024, commuters on a motorcycle (Okada) paid the highest fare in the South-West with N528.33 and North-East with N505.00, while the North-West recorded the least with N424.29.
Here are the 10 states with cheapest Okada ride in Nigeria
- Bayelsa - N285
- Anambra - N300
- Niger - N300
- Edo - N315
- Ekiti - N340
- Katsina - N350
- Osun - N350
- Sokoto - N350
- Adamawa - N400
- Kebbi - N400
NNPC sends message to Nigerians on petrol scarcity
Legit.ng previously reported that the Nigerian National Petroleum Company Limited (NNPC) assured Nigerians that it had over 1.5 billion litres of stock of premium motor spirit (PMS), also known as petrol, enough to serve the country for the next 30 days.
This was disclosed in a statement released on X (formerly Twitter), and signed by Olufemi Soneye, the company's chief corporate communications officer.
The NNPC also said that the long queues at filling stations nationwide will disappear as the supply and distribution of petrol continue to improve.
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Source: Legit.ng
