Breaking News

Airfares record 28% increase in one year – NBS

AIR transportation fares rose by 28.26 per cent in one year, according to a new report by the National Bureau of Statistics.

In a report titled, ‘Transport fare watch (March 2022),’ the NBS said the average fare paid by air passengers for specified routes on a single journey increased by 4.43 per cent month-on-month from N44,825.04 in February 2022 to N 46,810.62 in March 2022.

It said, “The average fare paid by air passengers for specified routes single journey, increased by 4.43 per cent on a month-on-month from N44,825.04 in February 2022 to N46,810.62 in March 2022. On a year-on-year, the fare rose by 28.26 per cent (N36,495.41) in March 2021.

“The average fare paid by commuters for bus journey intercity per drop rose to N3,270.94 in March 2022 indicating an increase of 5.29 per cent on a month-on-month compared to the value of N3,106.72 in February 2022. The fare, however, rose by 35.65 per cent (N2,411.29) on a year-on-year, in March 2021.”

According to the report, the average fare paid by commuters for bus journeys within the city per drop, increased by 4.41 per cent on a month-on-month from N513.72 in February 2022 to N536.35 in March 2022.

In terms of year-on-year, however, the average fare paid by commuters for bus journeys within the city per drop rose by 42.17 per cent from N 377.27 in March 2021 to N536.35 in March 2022.

The NBS added, “In another category, the average fare paid by commuters for journey by motorcycle per drop increased by 4.22 per cent on month-on-month from N379.12 in February 2022 to N395.12 in March 2022.

“Also, in terms of year-on-year, the fare rose by 45.57 per cent from N 271.44 in March 2021 to N395.12 in March 2022.

“The average fare paid for water transport (waterway passenger transportation) in March 2022 dropped to N 890.03 showing a decrease of 2.53 per cent on month-on-month from N 913.13 in February 2022. On year-on-year, the fare rose by 10.10 per cent from N808.38 in March 2021 to N890.03 in March 2022.”

About Editor

Check Also

CBN, Bankers Committee Sensitises Lagos Markets on ENaira

In a bid to enhance the adaptation of eNaira the Central Bank of Nigeria (CBN) in …

Leave a Reply