The average cost of bus transportation within Nigerian cities has experienced a staggering increase, jumping from N649.59 in May 2023 to N1,285.41 in June 2023. This significant rise, amounting to 98%, is attributed to the recent surge in the pump price of Premium Motor Spirit (PMS), commonly known as petrol. The data is sourced from the Transport Fare Watch report released by the National Bureau of Statistics (NBS) for June 2023.
The report provides a comprehensive breakdown of bus transportation costs, covering intra-city journeys, intercity travel within the state, and various modes of transportation. The drastic price increase for bus fares within cities is particularly noteworthy, reflecting the financial strain imposed on commuters by the higher fuel costs.
In a year-on-year comparison, bus fares have surged by 120.63% from the N582.61 paid by passengers in June 2022. The average fare for intercity bus journeys per drop surged to N5,686.49 in June 2023, a sharp 42.09% rise from N4,002.16 recorded in May 2023. This trend signifies the financial burden faced by individuals traveling between cities, both on a month-to-month and year-on-year basis.
The report states, “The average fare paid by commuters for bus journeys within the city per drop increased by 97.88% from N649.59 in May 2023 to N1,285.41 in June 2023. On a year-on-year basis, it rose by 120.63% from N582.61 in June 2022. In another category, the average fare paid by commuters for bus journey intercity per drop rose to N5,686.49 in June 2023, indicating an increase of 42.09% on a month-on-month basis compared to N4,002.16 in May 2023. On a year-on-year basis, the fare rose by 55.25% from N3,662.87 in June 2022.”
The drastic surge in bus transportation costs emphasizes the direct impact of rising fuel prices on daily commuting expenses for Nigerians. As the country navigates these economic challenges, citizens are facing the harsh reality of increased travel expenditures within and between cities.
