RateCaptain
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
Subscribe
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
RateCaptain
No Result
View All Result
Home Economy

Christmas Travel Costs Soar: Passengers Facing N50,000 Fare for Interstate Road Journeys

Victoria Attah by Victoria Attah
December 7, 2023
in Economy
Reading Time: 1 min read
A A
0
Christmas Travel Costs Soar: Passengers Facing N50,000 Fare for Interstate Road Journeys
Share on FacebookShare on TwitterShare on WhatsappShare on Telegram

As the Christmas season approaches, the expense of interstate travel in Nigeria is set to skyrocket, potentially reaching an exorbitant N50,000 for certain routes. This surge in transportation costs, driven partly by the removal of fuel subsidies by the current administration, may hinder many from embarking on holiday journeys.

According to the National Bureau of Statistics October 2023 Transport Fare Watch, the average fare for intercity bus trips surged by 53.04%, rising from N3,845.81 in October 2022 to N5,885.68 in October 2023. A check by Legit.ng revealed current bus fares, such as N34,500 for a Hiace Ultra from Iyana Ipaja, Lagos, to Area 3, Abuja, and N36,300 for a Hiace X on the Iyana Ipaja, Lagos, to Utako, Abuja route.

AlsoRead

Tinubu Issues Executive Order to Redirect All Oil Revenues to Federation Account, Ending NNPCL Deductions

US Dollar Slides to One-Week Low Amid Escalating Geopolitical Risks and Trade Uncertainty

CBN Cuts Benchmark Rate by 50bps to 26.5% in Measured Easing Move

With the festive season approaching, the trend is expected to continue, with passengers facing the possibility of paying up to N50,000 for bus tickets during the Christmas period. GUO Transport Company’s ticket prices indicate a potential 45% increase, with routes such as Lagos to Abuja costing N49,000 and Abuja to Lagos at N50,000.

The removal of fuel subsidies has been a significant factor in the escalating transportation costs, leading to concerns among travelers. Chijioke Osondu, a Lagos resident, mentioned the expected increase due to the fuel subsidy removal, forcing him to suspend travel plans with his family. Another individual, Peter Austin, expressed doubts about affording the high transport fare, potentially impacting holiday plans.

In the midst of these challenges, President Bola Tinubu recently announced the deployment of 100 electric buses, marking a strategic move towards a more sustainable and environmentally friendly transportation system in Nigeria. This initiative aims to reduce the country’s carbon footprint and modernize its transport infrastructure.

As the Christmas rush intensifies, travelers are bracing themselves for a substantial financial burden, potentially altering traditional holiday plans for many across the country.

 

Tags: #Sustainability.Christmas seasonElectric busesEnvironmental Impactfuel subsidy removalInterstate bus faresPresident Bola TinubuTransportation infrastructureTravel expenses
Previous Post

Concerns Over Chinese Economic Slowdown Dampen Asian Markets

Next Post

How to Apply for Federal Government’s Nano Business Grant and Loan 2023

Related News

Top Story: Tinubu Present N27.5 Trillion As 2024 Budget

Tinubu Issues Executive Order to Redirect All Oil Revenues to Federation Account, Ending NNPCL Deductions

by Akpan Edidong
February 27, 2026
0

President Bola Tinubu has signed an executive order that fundamentally reshapes the management of Nigeria's oil and gas revenues, directing...

Battered Commodity Currencies Gain Attention Amid Dollar’s Decline.

US Dollar Slides to One-Week Low Amid Escalating Geopolitical Risks and Trade Uncertainty

by Stephen Akudike
February 27, 2026
0

The US dollar weakened to its lowest level in a week on February 26, 2026, as investors scaled back positions...

Nigerian Equity Market Sees Impressive N1.08tn Wealth Gain Amidst Bullish Trading.

CBN Cuts Benchmark Rate by 50bps to 26.5% in Measured Easing Move

by Stephen Akudike
February 26, 2026
0

The Central Bank of Nigeria (CBN) reduced its Monetary Policy Rate (MPR) by 50 basis points to 26.5% on February...

Nigeria’s Stock Market Records N1.81 Trillion Gain in July.

NGX Closes Lower as Profit-Taking in Banking and Insurance Weighs on Market

by Stephen Akudike
February 26, 2026
0

The Nigerian Exchange Limited (NGX) extended its bearish session on Wednesday, February 25, 2026, with the benchmark All-Share Index dipping...

Next Post
How to Apply for Federal Government’s Nano Business Grant and Loan 2023

How to Apply for Federal Government's Nano Business Grant and Loan 2023

Leave a Reply Cancel reply

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

Recommended

Top Story: Tinubu Present N27.5 Trillion As 2024 Budget

Tinubu Issues Executive Order to Redirect All Oil Revenues to Federation Account, Ending NNPCL Deductions

February 27, 2026
Battered Commodity Currencies Gain Attention Amid Dollar’s Decline.

US Dollar Slides to One-Week Low Amid Escalating Geopolitical Risks and Trade Uncertainty

February 27, 2026

Popular Story

  • Battered Commodity Currencies Gain Attention Amid Dollar’s Decline.

    US Dollar Slides to One-Week Low Amid Escalating Geopolitical Risks and Trade Uncertainty

    0 shares
    Share 0 Tweet 0
  • FG Takes Governors to Supreme Court Over Local Government Allocations

    0 shares
    Share 0 Tweet 0
  • Nigeria’s Headline Inflation Eases Marginally to 15.10% in January 2026, Driven by Sharp Food Price Declines

    0 shares
    Share 0 Tweet 0
  • kms tools office 2024 ✓ Activate Microsoft Office Easily ➔ Step-by-Step Guide

    0 shares
    Share 0 Tweet 0
  • Israel-Iran Conflict Poses Mixed Economic Impacts for Nigeria

    0 shares
    Share 0 Tweet 0

RateCaptain

We bring you the most accurate in new and market data. Check our landing page for details.

  • Home
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Disclaimer
  • Cookie Policy
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

No Result
View All Result
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

RateCaptain
Manage Cookie Consent
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
  • Manage options
  • Manage services
  • Manage {vendor_count} vendors
  • Read more about these purposes
View preferences
  • {title}
  • {title}
  • {title}
?>