{"id":1064,"date":"2023-11-23T09:55:52","date_gmt":"2023-11-23T09:55:52","guid":{"rendered":"https:\/\/arritoneconsult.com.ng\/blog\/?p=1064"},"modified":"2023-11-23T09:55:52","modified_gmt":"2023-11-23T09:55:52","slug":"report-reveals-transportation-cost-dynamics-in-nigeria","status":"publish","type":"post","link":"https:\/\/arritoneconsult.com.ng\/blog\/2023\/11\/23\/report-reveals-transportation-cost-dynamics-in-nigeria\/","title":{"rendered":"Report Reveals Transportation Cost Dynamics in Nigeria"},"content":{"rendered":"\n<p>The National Bureau of Statistics (NBS) Report Reveals Transportation Cost, a notable year-on-year (YoY) surge of 7.6% in average air travel fare, reaching N78,778 in October 2023 compared to N73,198 in October 2022, according to its Transport Fare Watch for the month.<\/p>\n\n\n\n<p>The Report Reveals Transportation Cost that fares for bus and motorcycle (Okada) per drop, as well as waterway passenger transport journeys, also experienced an increase during the same period.<\/p>\n\n\n\n<p>Interestingly, despite a month-on-month (MoM) rise of 12.82% in diesel prices and a 0.71% increase in fuel prices, transport fares across all modes of travel witnessed a decline on a MoM basis.<\/p>\n\n\n\n<p>In air travel, the average fare paid by passengers for specified routes for a single journey showed a slight decrease of 0.30% compared to the previous month (September 2023). However, on a YoY basis, the fare rose by 7.62%.<\/p>\n\n\n\n<p>For bus journeys within the city per drop, the average fare decreased by 16.48% from N1,337.80 in September to N1,117.30 in October 2023. Nevertheless, on a YoY basis, it recorded a substantial increase of 75.45%.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"276\" height=\"183\" src=\"https:\/\/arritoneconsult.com.ng\/blog\/wp-content\/uploads\/2023\/11\/air-force.jpg\" alt=\"\" class=\"wp-image-1053\" srcset=\"https:\/\/arritoneconsult.com.ng\/blog\/wp-content\/uploads\/2023\/11\/air-force.jpg 276w, https:\/\/arritoneconsult.com.ng\/blog\/wp-content\/uploads\/2023\/11\/air-force-230x153.jpg 230w\" sizes=\"auto, (max-width: 276px) 100vw, 276px\" \/><\/figure>\n\n\n\n<p>In intercity bus journeys per drop, the average fare declined to N5,885.68 in October 2023, indicating a 0.53% decrease on a MoM basis compared to September 2023. However, on a YoY basis, the fare rose by 53.04%.<\/p>\n\n\n\n<p>The average fare for Okada transportation saw a significant 21.51% decrease in October 2023 compared to September 2023, settling at N507.30. On a YoY basis, it still reflected a 10.75% increase.<\/p>\n\n\n\n<p>Waterway passenger transportation reported a monthly contraction of 0.79%, with the average fare decreasing to N1,395.68 in October 2023 from N1,406.84 in September. However, on a YoY basis, it witnessed a notable increase of 38.7%.<\/p>\n\n\n\n<p>The NBS data highlights the complex dynamics influencing transportation costs, taking into account both month-to-month fluctuations and year-on-year trends, providing valuable insights into the evolving landscape of travel expenses in Nigeria.<\/p>\n\n\n\n<p class=\"has-medium-font-size\">For more news visit <a href=\"https:\/\/arritoneconsult.com.ng\/blog\/wp-admin\">https:\/\/arritoneconsult.com.ng\/blog<\/a><\/p>\n\n\n\n<p class=\"has-medium-font-size\">For more educational post visit <a href=\"http:\/\/examhood.com.ng\">examhood.com.ng<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The National Bureau of Statistics (NBS) Report Reveals Transportation Cost, a notable year-on-year (YoY) surge of 7.6% in average air travel fare, [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":1052,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[28],"tags":[],"class_list":["post-1064","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.0 - 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