Market News

BY  Joseph Olaoluwa

The average fare paid by air passengers for specified routes on a single journey increased by 0.02 per cent month-on-month and 18.27 per cent year-on-year to N36,463.65 in January 2021 from N36,454.59 in December 2020, according to the National Bureau of Statistics.

States with the highest airfare were Anambra (N38,600); Cross River/Jigawa/Lagos (N38,500) and Bauchi (N38,400); while states with the lowest airfare were Akwa Ibom (N32,450); Sokoto (N33,700); and Gombe N35,000.

The NBS, in its Transport Fare Watch report for January, said the average fare paid by commuters for bus journey within the city decreased by 0.66 per cent month-on-month and increased by 74.75 per cent year-on-year to N352.15 in January from N354.49 in December.

It said the average fare paid by commuters in intercity buses decreased by 0.25 per cent month-on-month and increased by 39.55 per cent year-on-year to N2,346.41 in January from N2,352.19 in December.

The statistics office said the states with the highest bus journey fare within the city were Zamfara (N600), Bauchi (N522.75), and Ekiti (N458.77), while states with the lowest bus journey fares within the city were Oyo (N189.46), Abia (N205.22), and Borno (N240.79).

It said the Federal Capital Territory (N4,482.24), Lagos (N3,300.23), and Sokoto (N3,300) had the highest bus journey fare intercity; while states with lowest bus journey fare within city were Bayelsa (N1,600.45), Bauchi (N1,640.20), and Enugu (N1,687.45).

The NBS said the average fare paid by commuters for journey by motorcycle per drop decreased by 11.60 per cent month-on-month and increased by 95.22 per cent year-on-year to N259.33 in January from N293.36 in December.

It said the average fare paid by passengers for waterway passenger transport also increased by 3.68 per cent month-on-month and by 38.58 per cent year-on-year to N786.19 in January from N758.27 in December.