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Intercity bus fares in Nigeria soar by 78.31% year-on-year in April 2024 – NBS
Business/Economy

Intercity bus fares in Nigeria soar by 78.31% year-on-year in April 2024 – NBS

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The average fare paid by commuters for intercity bus journeys in Nigeria surged by 78.31% year-on-year to N7,122.57 in April 2024, up from N3,994.51 in April 2023.

 This data, sourced from the National Bureau of Statistics (NBS) Transport Fare Watch for April 2024, highlights the significant increase in transportation costs over the past year.  

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The report, recently published on the NBS website, also noted a slight month-on-month decline of 0.43%, with the average fare dropping from N7,152.97 in March 2024. 

“The average fare paid by commuters for bus journey intercity per drop was N7,122.57 in April 2024, indicating a decline of 0.43% on a month-on-month basis compared to N7,152.97 in March 2024. 

“On a year-on-year basis, the fare rose by 78.31% from N3,994.51 in April 2023,” the report read in part. 

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Furthermore, the report revealed that Anambra State had the highest average fare for intercity bus journeys, at N9,600 per trip. 

  • Abia and Gombe States followed, sharing the second spot with an average fare of N8,300 per trip, while Akwa Ibom State came in third at N8,250 per trip.
  • On the other hand, Kwara State recorded the lowest average fare for intercity bus journeys in April 2024, with commuters paying N5,500 per trip. 
  • Ebonyi State was next with an average fare of N5,600 per trip, and Taraba State ranked third among the states with the lowest fares, at N6,100 per trip.

More insights  

The NBS report also reveals notable changes in intercity bus fare prices across different geopolitical zones in April 2024.

  • In the North Central zone, the average fare for intercity bus journeys was N6,810.00, reflecting a slight decrease of 0.06% from N6,814.29 in March 2024. However, this fare represents a significant 74.32% increase compared to the N3,906.64 recorded in April 2023.
  • In the North East zone, commuters paid an average fare of N7,058.33 for intercity bus journeys, marking a small increase of 0.12% from the N7,050.00 paid in March 2024. Yet, this fare is a substantial 70.66% increase from the N4,135.97 recorded in April 2023.
  • The North West zone saw an average fare of N7,000.00 for intercity bus journeys, indicating a 0.26% decline from N7,018.57 in March 2024. This amount also signifies an 83% increase compared to the N3,825.20 recorded in April 2023.
  • In the South East region, the average fare for intercity bus journeys was N7,370.00, showing a 0.94% decrease from the N7,440.00 recorded in March 2024. Compared to April 2023, when the fare was N3,970.66, this marks a significant 85.61% rise.
  • For the South West zone, commuters paid an average of N6,978.33 for intercity bus journeys, representing a 0.07% decrease from N6,983.33 in March 2024. This fare also reflects a notable 63.93% rise from the N4,256.77 recorded in April 2023.
  • In the South South zone, the average fare for intercity bus journeys was N7,632.50, reflecting a 1.37% decline from N7,738.33 in March 2024. Despite this decrease, the fare is still 95.17% higher than the N3,910.72 recorded in April 2023.
  • The analysis shows that in April 2024, the South South zone had the highest average fare for intercity bus journeys at N7,632.50, followed by the South East with N7,370.00. The North Central zone recorded the lowest average fare at N6,810.00.

Nairametrics

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