Okada Transport Fare Increases by 2.55% in February 2024

The National Bureau of Statistics has stated that the average transport fare paid on Okada transportation was N467.84 in February 2024 increased by 2.55% compared to the value recorded in January 2024 (N456.22)

This was contained in the Transport Fare Watch for February 2024 of the National Bureau of Statistics.

Transport Fare Watch for February 2024 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.

“On a year-on-year basis, transport fare paid on Okada transportation increased by 1.42% compared to February 2023 (N461.28)”.

The report added that For water transport (waterway passenger transportation), the average fare paid in February 2024 declined to N1,395.81 from N1,402.84 which indicates a decline of 0.50% on a month-on-month.

“On a year-on-year basis, it increased by 35.58% from N1,029.47 in February 2023”

The average fare paid by commuters for bus journeys within the city per drop declined to 1.21% from N963.38 in January 2024 to N951.76 in February 2024.

On a year-on-year basis, it rose by 46.98% from N647.54 in February 2023. In another category, the average fare paid by commuters for bus journey intercity per drop was N7,002.97 in February 2024, indicating a decline of 7.58% on a month-on-month basis compared to N7,577.03 in January 2024.

On a year-on-year basis, the fare rose by 75.48% from N3,999.70 in February 2023.
In air travel, the average fare paid by air passengers for specified routes single journey was N88,000.00 in February 2024, showing a decrease of 2.20% compared to the previous month (January 2024). On a year-on-year basis, the fare rose by 18.03% from N74,558.11 in February 2023.

The average transport fare paid on Okada transportation was N467.84 in February 2024 increased by 2.55% compared to the value recorded in January 2024 (N456.22).

“On a year-on-year basis, the fare increased by 1.42% compared to February 2023 (N461.28). For water transport (waterway passenger transportation), the average fare paid in February 2024 declined to N1,395.81 from N1,402.84 which indicates a decline of 0.50% on a month-on-month.
On a year-on-year basis, it increased by 35.58% from N1,029.47 in February 2023”.

According to the report, On state profile analysis, for intercity bus travel (state route charged per person fare), the highest fare was recorded in Akwa-Ibom and Anambra with N9,000.00, followed by Abuja with N8,050.00.

Adding that “The least fare was recorded in Kwara with N5,000.00, followed by Ebonyi with N5,700.00. Taraba state recorded the highest bus journey within the city (per drop constant route) in February 2024 with N1,400.00 followed by Ondo with N1,200.00”.

On the other hand, Abia recorded the least with N500.00, followed by Adamawa with N585.00. Similarly, Rivers recorded the highest air transport charges (for specified routes single journeys) with N100,000.00, followed by Kano with N96,000.00.
Conversely, Abia recorded the least fare with N70,000.00, followed by Abuja and Kogi with N80,000.00.

Also, Lagos State had the highest motorcycle transport fare in February 2024 with N850.00, followed by Ondo with N750.00. The least fare was recorded in Anambra with N250.00, while Bayelsa followed with N270.00. Similarly, water transport fare was highest in Bayelsa with N4,500.00, followed by Delta and Rivers with N4,100.00, while the least fare was recorded in Borno with N430.00, followed by Gombe with N570.00.