Bus fares drop despite rising fuel prices, NBS data shows

Intercity and intra-city bus fares in Nigeria dropped in October despite rising pump prices of petrol and diesel across the country, the latest data from the National Bureau of Statistics (NBS) shows.

The average fare for bus journeys within the city per drop declined 16.48 percent to N1,117.30 in October from N1,337.80 in September, according to the NBS.

The average fare paid by commuters for intercity bus journeys dropped 0.53 percent to N5,885.68 in October from N5,917.16 in September.

Diesel prices increased by 12.82 percent to N1,004.98 in October from N890.80 in September, while petrol prices increased to N630.63 from N626.21.

Abuja recorded the highest intercity bus fare of N8,000, followed by Adamawa (N7,600), Gombe (N7,550), Anambra (N7,500) and Delta (N7350).

The average fare paid for Okada transportation declined by 21.51 percent to N507.30 in October from N646.29 in September.

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The average fare paid for air travel stood at N78,778.38 in October, indicating a 0.30 percent decrease from N79,013.48 in September.

The average fare paid for water transportation dipped 0.79 percent to N1,395.68 in October from N1,006.22 in September.

President Bola Tinubu, in his inauguration speech on May 29, announced the removal of petrol subsidy, a development that led to a significant increase in pump prices and forced some motorists to minimise the usage of their cars.

To cushion the impact of the fallout of the subsidy removal and naira devaluation, the Lagos State Government in August reduced transport fares charged by state-owned buses and commercial buses by 50 percent and 25 percent, respectively.

However, the Lagos State Government cancelled this month the 50 percent transport fare discount on all public transport systems. This was disclosed in a public notice where the Lagos Metropolitan Area Transport Authority (LAMATA) announced a reversion to the old rates of public transport from November 5.

LAMATA informed commuters that starting from November 6, transport fares would return to the pre-2nd August 2023 rate.

Folake Balogun

Folake Balogun is a technology journalist covering Africa’s evolving digital economy, with a focus on startup ecosystems, Artificial Intelligence, venture capital, fintech innovation, and emerging technologies. Her work explores the intersection of technology, business, and society by highlighting how innovations such as artificial intelligence and next-generation connectivity are shaping everyday life and economic growth across the African continent and globally. She is a sixth cohort participant in the Technology and Digital Reporting training by the Media Career Development Network in partnership with the U.S. Consulate General, Lagos. Folake is also a Fellow of the Tax Justice and Equity Project (2023 Cohort) by the International Centre for Investigative Reporting (ICIR). Through her reporting and analysis, she continues to spotlight the people, ideas, and technologies driving digital transformation.