The National Bureau of Statistics (NBS) has revealed that the average cost of bus journeys within the city per drop stood at N976.08 in May 2024.
This represents a 0.86% increase in bus journey within the city when compared to the average fare of N967.76 reported in April 2024.
However, when the fare in May 2024 is compared to the same month in 2023, the cost of bus journeys within the city per drop rose by 50.26% from N649.59 in May 2023
NBS disclosed this in its latest transport fare watch list report for May 2024, which was released on its website.
Also in another category, the bureau stated that the average fare paid by commuters for bus journey intercity per drop was N7,129.46 in May 2024.
This is an increase of 0.10% on a month-on-month basis compared to N7,122.57 in April 2024.
While on a year-on-year basis, the fare rose by 78.14% from N4,002.16 in May 2023.
The report also provided a breakdown of state residents paid more for travel by bus.
Part of the report reads:
TimesNow.com.ng earlier reported that the Major Energy Marketers Association of Nigeria (MEMAN), which represents oil marketers, highlighted the reasons the price of gasoline at the pump cannot decrease below N300 a litre.
The marketers spoke in reaction to rumours that the Dangote Petroleum Refinery and other Indigenous producers and refinery operators would begin significant production and lower the pump price of Premium Motor Spirit to approximately N300 per litre.
Proofreading by James Ojo Adakole, journalist and copy editor at TimesNow.com.ng.
Source: TimesNow.com.ng
