Additionally, measures should be put in place to cushion the effect of rising transportation fares on the masses, especially low-income earners.įollowing the announcement of the presidential election results in Nigeria by the Independent National Electoral Commission, INEC on Wednesday, reactions have erupted from the citizens, observers and political parties. The government and private sector stakeholders must collaborate to address these challenges, including investing in infrastructure and reducing operating costs.
These factors have contributed to the increase in transportation fares, making it more challenging for commuters to afford transportation. The transport sector in Nigeria faces several challenges, including inadequate infrastructure, high operating costs, and the impact of the COVID-19 pandemic. The average transport fare paid via commercial motorcycle also increased by 1.04% in January 2023 compared to December 2022, while the fare for water transport increased by 16.28% on a year-on-year basis. On a year-on-year basis, the fare prices rose by 36.59% and 42.73%, respectively. Similarly, the average fare paid by commuters for intercity bus journeys per drop rose by 0.68% in January 2023 on a month-on-month basis.
The report also revealed an increase in the average fare paid by commuters for bus journeys within the city per drop, which rose by 0.94% in January 2023 on a month-on-month basis.
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