The costs of air travel rose by 11.01 per cent in November when compared to the same period in the prior year
The National Bureau of Statistics (NBS), indicated that the cost for a single journey soared N81, 334.05 in November from N73, 270.27 in November of the prior year.
The report stated, “On air travel, it stated that the average fare paid by air passengers for specified routes for a single journey was N81,334.05 in November, showing an increase of 3.24 per cent compared to the previous month.
“On a year-on-year basis, the fare rose by 11.01 per cent from N73, 270.27 in November of the prior year.”
Due to the security challenges across the country, many Nigerians have opted to travel by air.
Operators had attributed the rise in airfares to a hike in aviation fuel prices and foreign exchange scarcity in the country, which had shot up airlines’ operating costs.
Furthermore, the report noted that the average fare paid by commuters for bus journeys within the city per drop declined by 6.23 per cent from N1,117.30 in October to N1,047.63 in November.
However, on a year-on-year basis, it rose by 64.44 per cent from N637.10 in November 2022.
“The average transport fare paid on Okada transportation was N473.13 in November 2023, which declined by 6.74 per cent when compared with the value recorded in October 2023 (N507.30).