Domestic air travel costs skyrocketed by 57.81% year-over-year, with average passenger fares surging from N79,013.48 in September 2023 to N124,693.40 in September 2024.
The National Bureau of Statistics’ (NBS) recent Transport Fare Watch report revealed a 0.80% month-on-month increase in fares, rising from N123,700.14 in August.
Geographically, the South-West zone recorded the highest fare at N126,013.30, followed closely by the South-East at N125,881.64, while the North-West had the lowest at N120,731.25.
“Airfares were highest in Abuja at N129,600.00, followed by Anambra at N129,045.53, while Zamfara had the lowest fares at N96,969.78, followed by Ekiti at N120,555.37,” the report stated.
Industry stakeholders attributed the fare hike to escalating insurance costs and dollar shortages, which have significantly increased aircraft acquisition and maintenance expenses for domestic airlines, reports BusinessDay.
Nigerian airlines face daunting challenges, including fleet reduction due to high maintenance costs, resulting in fewer aircraft serving multiple domestic routes and driving airfare increases.
The NBS report also tracked fares for alternative transportation modes, including city bus rides, intercity travel, motorcycle taxis (Okada), and waterway passenger services.
City bus fares per drop saw a 3.45% increase, rising from N869.35 in August 2024 to N899.31 in September 2024.
Yearly comparisons reveal a 21.26% surge in fares, jumping from N5,917.16 in September 2023.
Okada transportation saw a 1.48% monthly increase, with average fares rising from N524.22 in August to N532.00 in September 2024.
However, on a year-on-year basis, Okada fares plummeted 26.04% from N719.26 in September 2023.
Waterway passenger transportation experienced a 1.30% monthly uptick, with average fares reaching N1,468.23 in September 2024.
Source: https://businessday.ng/
