DOMESTIC AIRFARES SOAR BY 97% – NBS

The average cost of airplane tickets in Nigeria rose from N37,022.97 in November 2021 to N73,267.57 in November 2022, latest data from the National Bureau of Statistics showed on Monday.

This represents an increase of 97.09 per cent, according to the NBS’ Transport Fare Watch report for November 2022.

The report also showed that that the average price of a single flight ticket increased by 0.09 per cent from N73,198.65 in October to N73,267.57 in November, 2022.

The NBS report reads in part, “In air travels fare, the average fare paid by air passengers for specified routes single journey, increased by 0.09 per cent on a month-on-month from N73,198.65 in October 2022 to N73,267.57 in November 2022.

On a year-on-year, the fare rose by 97.90 per cent from N37,022.97 in November 2021. It also disclosed the states with the highest average prices of airplane tickets on a single journey, and they included Taraba (N77,100), Delta (N76,500) as well as Bayelsa and Oyo with N76,100 each. The states with the lowest prices were Niger (N67,100), Gombe (N70,000) and Nasarawa (N70,100).

The report also disclosed that the average fare paid by commuters for bus journeys within the city per drop increased by 0.12 per cent in November 2022 on a month-on-month from N636.30 in October 2022 to N637.10. According to the NBS, on a year-on-year basis, however, the average fare paid by commuters for bus journeys within the city per drop rose by 42.69 per cent from N446.50 recorded in November 2021.

The report also said the average fare paid by commuters for bus journey intercity per drop rose to N3,848.48 in November 2022. This was an increase of 0.07 per cent on a month-on-month compared to the value of N3,845.81 in October 2022.

NBS said on a year-on-year basis, the fares rose by 45.53 per cent from N2,644.50 in November 2021. The PUNCH had recently reported that a spike in the cost of transportation amid the rising subsidy costs.

In The PUNCH report, it was noted that the average cost of bus transportation within Nigerian cities rose from N122.83 in January 2017 to N470.83 in December 2021.

This means that the cost of intra-city bus transportation has risen by 283 per cent in four years. Like the cost of bus transportation, the cost of fuel subsidy has also been increasing.

In 2017, the Nigerian National Petroleum Corporation said that it spent N144.53bn in subsidising premium motor spirit. In 2021, the NNPC said fuel subsidy gulped N1.43tn, although there was no record for under-recovery in January.

Within the four-year period under review, the cost of fuel subsidy rose by 889.41 per cent. Economic and energy experts have continued to decry the rising cost of fuel subsidy to the Federal Government.

https://punchng.com/domestic-airfares-soar-by-97-nbs/

 

 

 

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