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The cost of bus transportation within Nigerian cities has surged significantly, placing a heavier burden on commuters’ wallets. According to data released by the National Bureau of Statistics (NBS), the average cost of intra-city bus travel soared from N649.59 in May 2023 to a staggering N1,285.41 in June 2023. The relentless increase in the pump price of Premium Motor Spirit (PMS) is cited as the driving force behind this steep rise.
The NBS report’s figures shed light on the impact of the fuel price surge on the everyday lives of Nigerians. As urban and intercity bus fares reach new heights, discussions about the economic repercussions and potential mitigations are likely to take center stage. As citizens grapple with these challenges, the long-term ramifications on commuting habits, family budgets, and broader economic dynamics remain a matter of pressing concern.
Rapid Escalation of Costs
Within the span of just one month, the cost of commuting via buses within Nigerian cities experienced an astonishing 98% surge. This rapid escalation, amounting to N636, reflects the acute impact of the fuel price hike on everyday life. The NBS’s Transport Fare Watch report for June 2023 lays bare the financial strain borne by commuters.
Examining the broader context, the statistics reveal a stark year-on-year contrast. In June 2022, commuters paid an average bus fare of N582.61. The current figure of N1,285.41 represents an alarming 120.63% increase over the course of a year, underscoring the economic challenges faced by ordinary citizens.
Intercity Travel Burden
Intercity bus travel has not been spared from this financial burden. The report indicates that the average fare for an intercity bus journey per drop surged from N4,002.16 in May 2023 to N5,686.49 in June 2023. This signifies a notable month-on-month increase of 42.09%. In a broader time frame, the fare has risen by 55.25% compared to June 2022’s figure of N3,662.87, amplifying the financial squeeze experienced by those reliant on this mode of transportation.