NBS: Airfare Rises By 34.06% In One Year

From May, last year, airfare paid by air passengers for a single journey rose by 34.06 per cent  from N55,906.86 to N74,948.78 in May 2023.

The National Bureau of Statistics (NBS) made this known yesterday in its “Transport Fare Watch May 2023.”

Also, the NBS, in its document entitled: “Selected Food Price Watch for May 2023” showed that food prices continued to rise in May, this year.

It said monthly, the fare soared by 0.002 per cent from N74,947.30 in April, this year.

NBS said: “On a year-on-year basis, this rose by 9.09 per cent from N3,668.64 in May 2022. In air travel, the average fare paid by air passengers for specified routes single journey increased by 0.002 per cent on a month-on-month basis from N74,947.30 in April 2023 to N74,948.78 in May 2023. On a year-on-year basis, the fare rose by 34.06per cent from N55,906.86 in May 2022.”

The report said the average fare paid on Okada transportation in May 2023 was N464.55, a 0.49 per cent increase from the rate recorded in April 2023 (N462.29).

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It added that on a yearly, the fare rose by 11.30 per cent when compared with the value in May 2022, which was N417.39.

The Bureau explained that Transport Fare Watch for May 2023 covers the following categories: bus journey within the city per drop constant route; bus journey intercity (state route) charge per person; air fare charge for specified routes single journey; journey by motorcycle (Okada) per drop; and water way passenger transport.

NBS also noted that the average fare paid by commuters for bus journeys within the city per drop increased by 0.23per cent in May 2023 when N649.59 was recorded relative to N648.12 in April 2023.

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NBS said on a year-on-year basis, the average fare paid rose by 11.66% from N581.79 in May 2022. In another category, the average fare paid by commuters for bus journey intercity per drop in May 2023 was N4,002.16, indicating an increase of 0.19% on a month-on-month basis compared to the N3,994.51 recorded in April 2023.

The report added that the average fare paid for water transport (waterway passenger transportation) in May 2023 stood at N1,045.15, showing an increase of 1.39per cent from N1,030.83 in April 2023.

It further said on a year-on-year basis, this increased by 10.99per cent from N941.63 in May 2022.

The report showed that the average price of 1kg of Beef boneless stood at N2,520.52 in May 2023.

The report indicates a 24.19per cent rise in price on a year-on-year basis, from N2,029.59 recorded in May 2022 and a 1.00per cent rise in price on a month-on-month basis from N2,495.69 in April 2023.

NBS said the average price of 1kg of Tomato increased by 17.68% on a year-on-year basis from N423.48 in May 2022 to N498.34 in May 2023. On a month-on-month basis, the average price of this item increased by 2.73per cent in May 2023.

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It further noted that the average price of 1kg of Rice local (sold loose) rose by 24.06per cent on a year-on-year basis from N447.51 in May 2022 to N555.18 in May 2023.

According to NBS, on a month-on-month basis, it increased by 1.54per cent from N546.76 in April 2023.

The Bureau said similarly, the average price of 1kg of Onion bulb rose by 17.12per cent on a year-on-year basis from N387.53 in May 2022 to N453.86 in May 2023, and on a month-on-month basis, the price increased by 2.83per cent.

It noted that the average price of 1kg of Yam tuber rose by 22.84per cent on a year-on-year basis from N372.23 in May 2022 to N457.25 in May 2023. On a month-on-month basis, it increased by 2.83per cent from N444.69 in April 2023.