Transport Companies Increase Fares, Data Shows Residents of 3 States Pay More
- Recent data released by the NBS has revealed that Nigerians now pay more to move from one part of the country to another as fuel prices increase
- New data shows that the cost of bus journeys within the city has decreased by 2.18%, while the cost of intercity bus journeys has increased by 0.35%
- The highest transportation fare was recorded in South-West states followed by the South-South while the South-East recorded the least
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 disclosed that the average fare paid by commuters for bus journeys between cities was N7,117.17 per drop in July 2024.
This represented a 20.23% decline in transport costs compared to the average N5,919.49 recorded in July 2023.
Source: Getty Images
When comparing July's average fare to N7,092.03 paid in June 2024, the cost of transportation from one state to another increased by 0.35% month over month.
Some interstate transport companies include GIGM, E. Ekesons Transport, Young Shall Grow Transport, ABC Transport, Peace Mass Transit, and GUO Transport.
Breakdown of fuel price
In another category, the bureau stated that the average fare paid by commuters for bus journeys within the city was N942.61 per drop in July 2024.
This represented a 2.18% decrease compared to the average fare of N963.58 per drop in June 2024.
States with the highest, lowest transport costs
The report also provided a breakdown of state where residents paid more for travel by bus.
Part of the report reads:
"On state profile analysis, for intercity bus travel (state route charged per person fare), the highest fare was recorded in Anambra with N9,566.89, followed by Gombe with N8,299.44.
"The least fare was recorded in Kwara with N5,518.38, followed by Ebonyi with N5,596.11. Taraba state recorded the highest bus journey within the city (per drop constant route) in July 2024 with N1,457.28 followed by Ondo with N1,200.94.
"For analysis by zone in July 2024, transport fares for bus journeys within the city were highest in the South-West at N976.70, followed by the South-South at N965.75, while the South-East recorded the lowest at N901.26.
"For intercity bus journeys, the South-South had the highest fare at N7,637.14, followed by the South-East at N7,319.64, with the North-Central region recording the lowest fare at N6,812.11."
Filling stations sell fuel at new price
Legit.ng earlier reported that filling stations are now selling petrol at a new price significantly higher than the official pump price.
The changes reflect the ongoing scarcity of the product, especially in Abuja, which has now spread to various parts of the country.
Many filling stations visited by Legit.ng were closed while those opened were selling above N620 per litre.
Proofreading by James, Ojo Adakole, journalist and copy editor at Legit.ng.
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Source: Legit.ng
