A National Bureau of Statistics (NBS) report has shown that Nigeria’s domestic airfare has increased by 94.78 per cent yearly. The report, released in the Transport Fare Watch for January 2023, also revealed that airfares rose by 0.16 per cent monthly.
The aviation industry has faced challenges in recent months, resulting in some airline companies going out of business and air transport companies struggling to keep up with the industry crisis. The report shows that local airfares increased by 0.2% from N74,586.49 in December 2022 to N74,702.70 in January 2023.
The report also reveals that the average fare per drop for bus journeys within the city increased by 0.94% from N650.70 in December 2022 to N644.66 in January 2023. On a year-on-year basis, the fare increased by 36.59% from N476.39 in January 2022 to N644.66 in January 2023.
Intercity transport fares also increased prices, with the average food paid by commuters for intercity journeys per drop rising by 0.68% monthly,998.42 in January 2023. The fare prices rose by 42.73% from N2801.34 in January 2022 to N3,998.42 in January 2023 on a year-on-year basis.
The report highlights the challenges facing the transportation industry in Nigeria, with the aviation industry being hit particularly hard. The price increase will likely affect many Nigerians relying on air transport and bus journeys within the city for daily activities.
