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HomeBusinessJUST IN: Air travel fare rises 7% to N78,778 in October

JUST IN: Air travel fare rises 7% to N78,778 in October

The National Bureau of Statistics, NBS, yesterday, said average air travel fare grew year-on-year (YoY) by 7.6 percent to N78,778 in October 2023 from N73,198 in October 2022.

“In air travel, the average fare paid by air passengers for specified routes for a single journey was N78,778.38 in October 2023, showing a decrease of 0.30 percent compared to the previous month (September 2023). NBS said

Air transport fare rises by 8.70% in one year, says NBS - The Nation  Newspaper

Disclosing this in its Transport Fare Watch for October 2023, the national Bureau of Statistics, also said fare paid by commuters of bus, motorcycle  (Okada) per drop; and water way passenger transport journeys also increased during the period.

“On a year-on -year (YoY); basis, the fare rose by 7.62 percent from N73,198.65 in October 2022.

“The average fare paid by commuters for bus journeys within the city per drop declined to 16.48 percent from N1,337.80 in September to N1,117.30 in October 2023.

“On a YoY basis, it rose by 75.45 percent from N636.83 in October 2022.

“In another category, the average fare paid by commuters for bus journey intercity per drop declined to N5,885.68 in October 2023, indicating a decrease of 0.53 percent on a MoM basis compared to  N5,917.16 in September 2023.

“On a YoY, the fare rose by 53.04 percent from N3,845.81 in October 2022.

However, on month-on-month (MoM), transport fare declined in all modes of journeys despite the MoM increase in diesel and fuel price by 12.82 percent and 0.71 percent respectively during the review period.
“The average transport fare paid on Okada transportation was N507.30 in October 2023 which was 21.51 percent decrease when compared with the value recorded in September 2023 (N646.29).

“On a YoY basis, the fare rose by 10.75 percent when compared with October 2022 (N458.05).

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“For water transport (waterway  passenger transportation), the average fare paid in October 2023 decreased to N1,395.68 from N1,406.84 which indicates a contraction of 0.79 percent on monthly basis.

“On a YoY basis, it increased by 38.7 percent from N1,006.22 in October 2022.”

 

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