According to the National Bureau of Statistics (NBS), the average bus fare increased from N649.59 in June 2022 to N1,284.41 in June 2023, a 97.88% increase.
This was stated in the Federal Government agency’s document titled “Transport Fare Watch for June 2023,” which covers the following categories: bus journeys within cities charged per drop constant route; bus journeys between cities charged per person (state route); air fare charges for single journeys on designated routes; motorcycle (Okada) journeys charged per drop; and water way passenger transport.
According to the report, the average fare for bus rides within the city increased from N649.59 in May 2023 to N1,285.41 in June 2023, a 97.88% increase. On an annual basis, it increased by 120.63%.
According to NBS, in a different category, the average fare for commuters taking intercity buses per drop increased to N5,686.49 in June 2023 from N4,002.16 in May 2023, representing a monthly increase of 42.09 percent.
The report claims that from N3,662.87 in June 2022, the fare increased by 55.25 percent annually.
The bureau reported that the average fare for a single flight on specified routes was N74,948.78 in May 2023 and N78,640.54 in June 2023, an increase of 4.93 percent. The fare increased 40.22% year over year from N56,082.64 in June 2022.
According to NBS, the average fare paid for water transportation (passenger transportation via waterways) increased to N1,366.22 in June 2023 from N1,045.15 in May 2023.
According to NBS, it increased by 44.84% from N943.26 in June 2022 on an annual basis.
The NBS stated in a different document titled Elected Food Price Watch for June 2023 that the average cost of one kilogram (1 kg) of beef boneless in June 2023 was N2,653.02.
The report states that this represents an increase of 27.55 percent on an annual basis from the N2,079.93 recorded in June 2022 and a rise of 5.26 percent on a monthly basis from the N2,520.52 in the previous month.
The bureau also said the average price of 1kg of tomato increased by 24.86 per cent on a year-on-year basis from N438.33 in June 2022 to N547.28 in June 2023.
NBS said: “On a month-on-month basis, the average price of the product increased by 9.82 per cent. The average price of 1kg of rice local (sold loose) rose by 32.17 per cent on a year-on-year basis from N460.17 in June 2022 to N608.20 in June 2023. On a month-on-month basis, it increased by 9.55 per cent from N555.18 in May 2023.”