Cost of Bus Transport in Nigeria Increases By 79% Year-On-Year in May 2021
The average fare paid by Nigerian commuters for a bus journey within the city increased by 79.39% year-on-year to stand at N399.06 in May 2021, National Bureau of Statistics (NBS) reports.
According to the report transport fare watch report, fares increased from an average of N222.46 recorded in May 2020 to N399.06 in May 2021. This also represents a 3.36% increase when compared to N386.10 paid by commuters in April 2021.
States with the highest bus journey fare within the city were Zamfara (N643.10), Bauchi (N599.55), and Taraba (N520.38).
On the other hand, states with the lowest bus journey fare within the city were Oyo (N202.15), Abia (N215.04), and Borno State (N269.77).
Similarly, the average fare paid by commuters for intercity bus journey increased by 1.79% month-on-month from N2446.86 in April 2021 to N2,490.6 in May 2021.
It also increased by 38.09% year-on-year from an average of N1,803.59 in May 2020 to N2,490.6 in May 2021.
States with the highest intercity bus journey fare were Abuja FCT (N4,600.47), Lagos (N3,570.64), and Sokoto State (N3,370.24).
While, states with the lowest intercity bus journey fare were Bayelsa (N1,780.22), Bauchi (N1,800.06), and Enugu (N1,827.10).
The latest figure indicates that Nigerians paid significantly higher on transport costs in May 2021 compared to the month of April 2021.
Recall that the National Bureau of Statistics released the monthly inflation report for May 2021, which reveals that the core inflation rose by 0.41% points from 12.74% recorded in April 2021 to 13.15% in May 2021.