In August 2024, the average fare for air passengers on designated routes for a single journey surged to N123,700.14, marking a substantial increase of 25.51% from N98,560.28 in July 2024. According to a report released by the Nigeria Bureau of Statistics on Tuesday, this fare also reflects a year-on-year rise of 56.56% from N79,011.38 in August of the previous year, indicating a rise in air travel costs for passengers.

Conversely, the average fare for urban bus journeys decreased to N869.35 in August 2024, representing a 7.77% decline from N942.61 in July 2024. Year-on-year, this fare saw a significant drop of 34.95% from N1,336.38 in August 2023, likely due to reduced inflationary pressures affecting city transport.

For intercity bus travel, the average fare experienced a slight uptick of 0.59%, reaching N7,159.00 in August 2024, compared to N7,117.17 in July. On an annual basis, this fare increased by 20.97% from N5,918.18 in August 2023, reflecting the rising operational costs faced by transport providers.

Motorcycle fares, commonly referred to as Okada, also saw an increase. The average fare for a single drop in August 2024 was N524.22, an 8.46% rise from N483.33 in July 2024. However, compared to August 2023, this fare decreased by 18.87% from N646.12.

Waterway transportation fares, utilized in riverine regions, also experienced a rise. The average fare for waterway passenger transport increased to N1,449.34 in August 2024, up 3.30% from N1,402.95 in July 2024. Year-on-year, this fare rose by 3.03% from N1,406.74 in August 2023.

In summary, while certain transport fare categories have seen reductions, the notable increases in air and intercity transport costs highlight ongoing inflationary pressures affecting long-distance travel.

In July, reports indicated that the Federal Government intends to increase its charges, following complaints from the Airline Operators of Nigeria regarding excessive taxation.