- Okada transportation fare increased by 258.2% from May 2019 to May 2023, averaging N464.55 in May 2023
- Kwara had the highest fare (N760.00), while Edo had the lowest (N158.05). Removal of fuel subsidy may further raise fares
Between May 2019 and May 2023, the average okada (motorcycle) transportation fare increased by 258.2%.
According to the National Bureau of Statistics’ Transport Fare Watch reports.
According to the report, the average fare for Okada rides increased from N129.69 in May 2019 to N464.55 in May 2023.
The average fare paid on Okada transport in May 2023 was N464.55, a 0.49 percent increase from the rate recorded in April 2023 (N462.29),” according to the May 2023 report. The fare increased by 11.30% year on year when compared to the value in May 2022, which was N417.39.
According to the report, the highest okada fare was paid in Kwara, while the lowest was paid in Edo.
It read;
Also, Kwara State had the highest motorcycle transport fare in May 2023 with N760.00, followed by Lagos with N750.04, while the least fare was recorded in Edo with N158.05.
With the removal of the fuel subsidy, the average cost of okada rides is expected to rise.
The average motorbike fare increased by 36.75 percent yearly in January 2023. Nigerians struggled with naira scarcity due to the Central Bank of Nigeria’s naira redesign policy and petrol scarcity.
Nigeria Air to commence operations October
Recent reports suggest that Nigeria Air, the new national carrier, is set to begin its flight operations in October this year.
During an interview with Bloomberg TV, Mesfin Tasew, the Chief Executive Officer of Ethiopian Airlines, revealed the information.
The airline was initially introduced in 2018 at the Farnborough International Airshow in London. However, in May 2023, Hadi Sirika, the former Aviation Minister of Nigeria, launched the carrier just two days before the end of his term, causing widespread controversy and uproar across the country.
However, Tasew during the interview, said: “The airline will begin operation with two wide-bodied planes and six narrow-bodied aircraft.