Nigeria: Road transport fare inched up in February 2020 – NBS

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Average fare paid by commuters for bus journey within the city increased by 0.68% month-on-month and by 14.26% year-on-year to N202.89 in February 2020 from N201.51 in January 2020.

Nigeria: Road transport fare inched up in February 2020 - NBS - Brand Spur
Photo by Eva Blue on Unsplash

National Bureau of Statistics (NBS) disclosed this in its Transport Fare Watch report for February 2020, adding that the States with highest bus journey fare within city were Zamfara (N336.00), Abuja FCT/Cross River (N310.00) and Lagos (N275.00) while States with lowest bus journey fare within city were Bauchi (N107.00), Abia (N147.00) and Anambra (N149.00).

The bureau, in its transport fare watch report for February, said the average fare paid by commuters for bus journey intercity increased by 0.91% month-on-month and by 9.61% year-on-year to N1,696.76 in February 2020 from  N1,681.38 in January 2020.

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The report added that States with highest bus journey fare intercity were Abuja FCT (N4,235.00), Borno (N2,550.00) and Adamawa (N2,545.00) while States with lowest bus journey fare within city were Bauchi (N963.00), Enugu (N970.00) and Bayelsa (N1030.00).

NBS stated that the average fare paid by air passengers for specified routes single journey increased by 0.24% month-on-month and by 0.73% year-on-year to N30,904.89 in February 2020 from N30,831.76 in January 2020.  States with highest air fare were Rivers (N35,600.00), Jigawa (N35,400.00), Kwara (N35,350.00) while States with lowest air fare were Katsina (N24,686.00), Sokoto (N25,400.00), and Kano (N25,500.00).

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According to the report, the average fare paid by commuters for journey by motorcycle per drop increased by 1.58% month-on-month and by 16.97% year-on-year to N132.94 in February 2020 from N132.84 in January 2020.

“States with highest journey fare by motorcycle per drop were Rivers (N262.00), Kogi (N240.00) and Lagos (N205.00) while states with lowest journey fare by motorcycle per drop were Adamawa (N63 .00), Katsina (N69.00) and Jigawa (N70.00).”

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“Average fare paid by passengers for water way passenger transport increased by 0.24% month-on-month and by 3.63% year-on-year to N568.68 in February 2020 from N567.32 in January 2020.”

“States with the highest fare by waterway passenger transport were Delta (N1,890.00), Bayelsa (N1,870.00) and Rivers (N1,800.00) while states with the lowest fare by water way passenger transport were Borno (N135.00), Gombe (N198.00) and Ebonyi (N200.00).

Download February 2020 Transport Fare Watch Report
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Nigeria: Road transport fare inched up in February 2020 - NBS - Brand SpurNigeria: Road transport fare inched up in February 2020 - NBS - Brand Spur

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New entrant AECO Energy launches business innovation to deliver ‘last mile of value chain’ to Singapore’s maturing open electricity market

  • AECO Energy announces the launch of its operations in Singapore to provide innovation to the open electricity market for businesses with generation 2.0 of its technology and service offerings.
  • The company will introduce three solutions as part of its initial portfolio, customisable to specific business needs.


SINGAPORE - Media OutReach - 13 April 2021 - AECO Energy, a new entrant to Singapore's electricity sector, has today announced the launch of its operations. AECO Energy will be the first-of-its kind energy technology and services company aimed at innovating customer-centric offerings in electricity and renewable energy markets.

With over 12 years of experience in delivering open market electricity services and solutions to businesses in Australia under the Power Choice brand, AECO Energy is bringing its second generation of services and technology to Singapore for the first time. AECO's second generation delivers on two major offerings.

Firstly, AECO delivers the 'last mile' of value in Singapore Open Electricity Market (OEM) value chain by providing innovative services to assist businesses to manage, plan and make better buying decisions.

AECO is all about enabling increased profits for businesses. AECO has a customer-centric mission to use its low-cost proven technology and expert-led services to enable better business decisions within a complex electricity market with multiple providers and opaque medium- to long-term pricing information. This comes against the backdrop of Singapore's maturing OEM, which gives businesses and consumers the autonomy to buy and choose their electricity providers - the freedom to choose.

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AECO Energy's technology platform, MarketPro™ with its unique, electricity futures market simulator Rate Watch™, delivers business and electricity efficiency and empowers businesses through relevant and timely pricing information, while also helping Singapore businesses make better buying decisions via automated tenders and reverse auctions. Moreover, for businesses who do not have the capability and capacity to manage and purchase its own electricity, AECO Energy Portfolio™ delivers scalable buying power with a fully-managed contract management and purchasing aggregation service for small, medium and large businesses.

Alan Jones, CEO, Chairman & Founder, AECO Energy, said: "We are incredibly excited and humbled to be joining Singapore's dynamic energy scene with our low-cost, high-value products and services. Our mission is clear: just like Amazon is revolutionising the 'last mile' of product supply chains with its same day delivery, we are also delivering the 'last mile' of the value chain in Singapore's OEM that enables more businesses better purchasing decisions, more business profitability and growing all of Singapore's economy."

Secondly, with SGX-listed entities, enterprises and multinational corporations (MNCs)' increasing emphasis on sustainability, AECO (through its SustainPro™ offering) will bring for the first-time in Singapore the benefit of AECO's direct relationship with generators of International Renewable Certificates (I-REC). This enables Southeast Asian markets the benefit of medium- to long-term low-cost and structured REC solutions to meet renewable energy targets and sustainability goals. This translates to more profits by providing more predictable costs for businesses in meeting their sustainability and renewable energy goals.

"As a specialised company, unburdened with corporate overheads and distractions from Singapore's local market participants, we can offer companies who are based anywhere in Southeast Asia, sustainability and renewable energy solutions that span markets and countries at a lower and more predictable price. We are honoured to play our part to bring sustainability and increased renewable energy throughout the world and to do so while benefiting our customers' cost structures," continued Mr. Jones.

AECO Energy is introducing three offerings as part of its electricity management solutions:

  • MarketPro™: Businesses can optimise costs and seize market opportunities with exclusive access to customised market price information through AECO Energy's integrated online procurement and management platform equipped with Rate Watch™, a market simulation and automated procurement technology from as low as SGD $149 per month.
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"With the understanding that business needs are unique for every organisation, our energy experts will work closely with customers here in Singapore to help them reduce costs, drive efficiency and make better buying decisions. By providing technology-enabled, insights-driven energy technology solutions, we want to create a profound impact on our customers' businesses to better position them for sustainable growth in the long-term," concluded Alan.


About AECO Energy:

Based in Singapore, the AECO Pacific Group owns and operates the Power Choice and AECO Energy brands. A leading pioneer for more than 12 years in electricity brokerage and consulting services in Asia Pacific focusing on deregulated electricity markets, AECO Pacific helps businesses with electricity procurement and management backed by market intelligence. Transforming and saving businesses more, AECO's combined experience in energy leadership and innovative technology solutions remain unmatched in dynamic and changing energy markets. For more information, visit https://powerchoice.com.au/ and https://aecoenergy.sg/.

Nigeria: Road transport fare inched up in February 2020 - NBS - Brand Spur
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