Airfare Costs Climb Sharply Amid Rising Energy Prices
The average domestic airfare for a single journey in Nigeria rose by 25.51% in August 2024, reaching N123,700, compared to N98,561 in July, according to the National Bureau of Statistics (NBS) in its latest Transport Fare Watch report.
The report also showed a significant year-on-year increase, with airfare costs surging by 56.56% from N79,011.38 in August 2023 to the current N123,700. Niger State recorded the highest air transport fares at N129,575.21, followed by the Federal Capital Territory, Abuja, at N129,442.67. Conversely, Zamfara had the lowest fares at N102,665.89, followed by Cross River at N120,088.93.
The rise in airfare coincides with increases in the cost of other transportation methods, including road, water, and rail, driven by the soaring energy prices in the country.
Similar Posts:
- Electricity Tariff Set to Increase Over 40%, Signaling the End of Energy Subsidies
- Dangote Claims Refinery Petrol 15% Cheaper Than NNPC’s Imported Fuel (Video)
- Nigeria’s Money Supply Surges 65% to N107.1 Trillion in August 2024
- $800m loan: Nigeria left with no choice but to Borrow – World Bank Director, Chaudhuri
- Government Not Responsible for Latest Petrol Price Hike, Says Minister of Information
