Transport fare rises despite drop in petrol price

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The price paid by passengers for bus, motorcycle and water way journeys rose despite the decline in the petrol price. The development may be connected to the social distancing measures applied in public transportation which curtailed the number of passengers allowed in a vehicle but which also made transporters to jerk up their fares to cover for the shortfalls in the volume of passengers per loading.

The National Bureau of Statistics (NBS) disclosed, yesterday in its “Transport Fare Watch Report” for April 2020 disclosed that the average fare paid by commuters for intra-city bus journey increased by 8.21 percent Month-on-Month, MoM, and by 23.43 percent Year-on-Year, YoY, to N223.71 in April 2020 from N206.73 in March 2020.

The report stated further: “Average fare paid by commuters for bus journey intercity increased by 5.22 percent MoM and by 10.92 percent YoY to N1,779.51 in April 2020 from N1,691.23 in March 2020

Average fare paid by air passengers for specified routes single journey was flat MoM and increased by 0.07 percent YoY to N30,743.65 in April 2020 from N30,743.66 in March 2020.
“Average fare paid by commuters for journey by motorcycle per drop increased by 10.56 percent MoM and by 27.45 percent YoY to N148.22 in April 2020 from N134.07 in March 2020.
“Average fare paid by passengers for water way passenger transport increased by 7.69 MoM and by 11.85 percent YoY to N606.59 in April 2020 from N563.26 in March 2020.”
In its earlier report the NBS had said that the price paid by consumers for petrol decreased MoM by 10.01 percent to N130.84 in April 2020 from N145.40 in March 2020.

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