Nigeria’s air travel costs rise by 25.51% in August – NBS

The Nigeria Bureau of Statistics (NBS) has reported that air travel costs in Nigeria skyrocketed in August 2024, with average fares jumping to N123,700.14, marking a 25.51% increase from July’s average of N98,560.28.

According to the NBS’ Tuesday report, air travel costs surged 56.56% in August 2024 compared to August 2023, when fares were N79,011.38.

In other categories, the average fare for bus journeys within cities dropped to N869.35 in August 2024, showing a decrease of 7.77 percent from N942.61 in July 2024.

In a year-on-year comparison, the fare plummeted by 34.95 percent from N1,336.38 in August 2023.

This decline may be attributed to easing inflationary pressures on city transportation.

The average fare for intercity bus journeys in Nigeria edged up by 0.59% to N7,159.00 in August 2024, from N7,117.17 in July, indicating a moderate increase in travel costs.

Intercity bus fares surged by 20.97% year-on-year, jumping from N5,918.18 in August 2023 to N7,159.00 in August 2024, largely driven by escalating operational costs for transport operators.

Commuters relying on motorcycles (Okada) for transportation also faced higher fares, with the average cost for a single drop rising to N524.22 in August 2024, representing an 8.46% increase from July’s fare of N483.33.

Despite the monthly surge, the year-on-year trend showed a significant 18.87% decrease from N646.12 in August 2023, indicating a fluctuating market for Okada services.

Waterway transportation, which is commonly used in riverine areas, also saw a fare hike.

In August 2024, the average fare for waterway passenger transport increased to N1,449.34, a 3.30 percent increase from N1,402.95 in July 2024.

On a year-on-year basis, the fare rose by 3.03 percent from N1,406.74 recorded in August 2023.

Despite declines in certain transport categories, significant increases in air and intercity travel costs indicate persistent inflationary pressures on long-distance commuting.

This trend may worsen as the Federal Government plans to increase its charges, potentially exacerbating concerns already voiced by the Airline Operators of Nigeria (AON) regarding multiple taxation, as reported by Persecondnews in July.