According to reports from the National Bureau of Statistics (NBS), intra-city transport fares in Nigeria have increased by 283 per cent.
This was disclosed in the Transport Fare Watch reports of the National Bureau of Statistics.
Average cost of bus transportation across Nigeria grew by N348 from 2017(N122.83) to 2021 (N470.83), growing by 283% in the span of five years.
Data from the NBS further revealed that in 2021, Zamfara had the highest intra-city bus transport cost at N700.22 while Abia had the lowest at N294.44. In contrast, in 2017, Abuja had the highest intra-city bus transport cost at N290.55 while Borno had the least at N50.
Furthermore, the report stated that the average cost of bus transportation from city to city comparism (from one city to another) rose from N1,430. in January 2017 to N2,784. in December 2021. Notably, the 2021 average transport cost is 2.39 greater than 2017’s value.
Concurrently, the average price of petrol and the cost of bus transportation has shown a positive correlation, with petrol price increasing by 11.48 within the time series. Also, the price of petrol increased by 11% from N148.7 to N165.77 in the last five years (2017-2021).
As the cost of bus transportation increases, the cost of fuel subsidy has also been surging .
According to punch, Amount spent on subsidizing petrol on a monthly basis in 2017 showed that in January, February, March, April, May and June, N37.26bn, N6.3bn, N8.207bn, N8.207bn, N7.743bn and N11.79bn were spent by the NNPC respectively; while for the months of July to December, the NNPC spent N10.25bn, N7.939bn, N7.522bn, N6.849bn, N16.785bn and N15.677bn, respectively.