Airfares of Nigerian Airlines Rise by 47.64% in One Year
- Nigerians trying to avoid the insecurity associated with road travel are paying more for airline tickets.
- A new report from the National Bureau of Statistics shows that in just one year, the cost of airfare has risen by 47%.
- Air transportation costs were highest in the South-West region, followed by the North-Central, while the South-South recorded the lowest fares
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 has revealed that Nigerians paid more for airfares during the festive season.
According to NBS, the average fare paid by air passengers for specified routes single journey was N126,514.82 in December 2024.
Source: Getty Images
December 2024 average airfare represents an increase of 0.29% compared to the previous month (November 2024).
While on a year-on-year basis, the fare rose by 47.64% from N85,692.12 in December 2023.
NBS disclosed the price changes in its latest transport fare watch for December 2024 published on its website.
The report reads:
"Air travel, the average fare paid by air passengers for specified routes single journey was N126,514.82 in December 2024, showing an increase of 0.29% compared to the previous month (November 2024).
"On a year-on -year basis, the fare rose by 47.64% from N85,692.12 in December 2023."
NBS reveals top states with high domestic airfares
In its state profile analysis, the NBS noted that Oyo recorded the highest air transport charges for specified routes (single journeys) at N130,475.33, followed by Rivers with N129,948.94.
Conversely, Ekiti recorded the lowest fare at N121,409.71, followed by Ebonyi with N122,275.61.
It added that the highest air transport fares were recorded on flights to and from the southwest, with an average fare of N127,037.63 in December 2024.
This was followed by the North-Central at N126,811.31, while the South-South had the lowest at N125,892.83.
Snapshot of 10 cheapest states to travel by air and prices in December
| States | Average airfares |
| Ekiti | N121,409.71 |
| Ebonyi | N122,275.61 |
| Bauchi | N123,243.83 |
| Bayelsa | N123,663.46 |
| Delta | N123,754.28 |
| Edo | N123,767.99 |
| Nasarawa | N123,788.46 |
| Kebbi | N124,288.54 |
| Adamawa | N124,710.30 |
| Benue | N124,918.36 |
What determines airfares?
Air Peace, Nigeria’s largest carrier in a recent chat with journalists attended by Legit.ng revealed that the cost of operating a one-hour flight surpasses N14 million.
Oluwatosin Olajide, the airline’s chief operating officer who disclosed this also said that N7 million is needed to buy 4,000 litres of aviation fuel sold at N1,400 per litre in Nigeria.
According to her, for the aircraft, crew, maintenance, and insurance (ACMI), Air Peace spends about $4,000 for a one-hour flight, Punch reports.
FG begins construction of another international airport
Legit.ng reported that work has started on the construction of the Abia State International Cargo Airport in Ubahu Nsulu, Isiala Ngwa North local government area.
Festus Keyamo, the minister of aviation and aerospace development, officially launched the project on Wednesday, December 18.
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Source: Legit.ng
