NBS Report: Increase In Domestic Flight Price By 95%

According to data from the National Bureau of Statistics, the average domestic airfare paid by passengers climbed by 94.78% during the previous 12 months of the year 2022, as captioned by Entrepreneurng report.

The new development occurred when several difficulties affecting the regional aviation industry were being reported such as various scarcity of Nigeria petroleum resources among many others.

The National Bureau of Statistics also stated that in a new study titled “Transport Fare Watch (January 2023)” that when compared month to month, airfares saw a rise of 0.16 percent and was seen to be highly inflated.

Also, Local airfares increased from an average of N74,702.70 in January 2023 to N74,586.49 in December 2022 according to report from National Bureau of Statistics.

The fare also increased by 94.78 percent from N38,352.19 in January 2022 when compared year over year and amid all air commuters have been deerly and greatly affected by this increase.

However, the data also revealed that, from N644.66 in December 2022 to N650.70 in January 2023, the average fare paid by commuters for bus trips within the city grew by 0.94 percent month over month.

While the average fare that commuters paid for bus rides inside the city increased year over year from N476.39 in January 2022, it increased by 36.59%.

Nevertheless, in a different area, our correspondent’s investigation showed that the average fare paid by commuters for intercity bus trips per drop increased to N3,998.42 in January 2023, representing an increase of 0.68 percent month-over-month from the figure of N3,971.22 in December 2022.

According to National Bureau of Statistics, the fare rates increased 42.73% from N2801.34 in January 2022.

Moreover, in January 2023, the standard transit fare for a commercial motorcycle was N466.25. On a month-over-month basis, this was 1.04 percent higher than the rate observed in December 2022 (N461.45). When compared to January 2021, the fare increased by 36.75 percent year over year (N340.94).

In conclusion, January 2023, the average fare paid for water transportation (waterway passenger transit) rose to N1,032.84. In comparison to the N888.24 recorded in January 2022 and the N 1,028.73 recorded in December 2022, this is a growth of 16.28% annually and 0.40% monthly.

Source: Punch