Domestic Airfare Surges 25% to N123,700 in August 2024 – NBS

The average cost of domestic air travel in Nigeria spiked by 25.5% in August 2024, climbing to N123,700 from N98,561 in July 2024, according to the latest report from the National Bureau of Statistics (NBS). This sharp increase comes amidst a challenging economic landscape for many Nigerians.

The NBS report, titled “Transport Fare Watch for August 2024,” highlighted that Niger State recorded the highest airfare at N129,575, closely followed by Abuja with N129,442. Meanwhile, Zamfara had the lowest average airfare at N102,665, with Cross River next at N120,088.

The report also provided a year-on-year comparison, showing a 56.56% increase in airfare from N79,011 in August 2023. This marks a significant jump in travel costs over the past year.

In addition to air travel, the report shed light on other transportation costs. Intercity bus fares saw a modest month-on-month increase of 0.59%, reaching N7,159 in August 2024, compared to N7,117 in July. Anambra State had the highest intercity bus fare at N9,580, while Kwara recorded the lowest at N5,574.

Motorcycle (Okada) fares also rose, with the average fare per journey increasing by 8.46% to N524 in August. Lagos recorded the highest fares at N909, while Bayelsa had the lowest at N312.

Water transport fares grew by 3.3%, with Bayelsa having the highest average fare at N4,563 and Borno the lowest at N475. On the other hand, intra-city bus fares experienced a decline of 7.7%, with the average cost dropping to N869 from N942 in July. Zamfara recorded the highest within-city bus fare at N1,155, while Adamawa had the lowest at N455.