Transport cost up 98% in 30 days, due to fuel scarcity – NBS

The cost of bus transportation in Nigerian cities has experienced a significant increase, as noted in the Transport Fare Watch report from the National Bureau of Statistics (NBS) for June 2023. The average cost of bus transportation rose from N649.59 in May 2023 to N1,285.41 in June 2023, marking a 98% increase within just one month. This surge is attributed to the rise in the pump price of Premium Motor Spirit (PMS), commonly known as petrol.

Furthermore, the NBS report provides a breakdown of the increased costs across various categories, including bus journeys within cities, intercity (state routes), and other modes of transportation. The average fare paid by commuters for bus journeys within the city per drop saw a substantial rise of 97.88%, going from N649.59 in May 2023 to N1,285.41 in June 2023. Comparing on a yearly basis, this reflects a staggering increase of 120.63% from N582.61 in June 2022.

Similarly, the average fare for bus journey intercity per drop climbed to N5,686.49 in June 2023, showing a month-on-month increase of 42.09% from N4,002.16 in May 2023. On a yearly basis, this intercity fare surged by 55.25% from N3,662.87 in June 2022.

These changes are indicative of the economic impact caused by the rise in fuel prices and how it has directly affected transportation costs within Nigerian cities.

Edited By Damilola Adeleke

Leave a Reply

Your email address will not be published. Required fields are marked *