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Transport fare increases by 8% in January — NBS

By Gbenga Olarinoye & Adaeze Okechukwu

Against the backdrop of hike in petrol price across the country, the average fare paid by commuters for road trips surged by an average 8.13 percent month-on-month (MoM) in January.

*A Lagos bus-stop. Commuters complain of undue hike in transport fares due to recent fuel scarcity

The National Bureau of Statistics, NBS, disclosed this, yesterday, in its Transport Fare Watch for January.

This came as a former Director of Nigeria Institute of Policy and Strategic Studies, NIPSS, Kuru, Prof. Olu Obafemi yesterday took a swipe at the Federal Government, on the acclaimed growth of Nigerian economy, saying such assertion could not be substantiated going by the obvious disconnection between Gross Domestic Product (GDP) and Gross National Happiness.

The NBS report stated that, “the average fare paid by commuters for bus journey within the city increased by 7.31 percent (MoM) and 49.69 percent (YoY) to N183.86 in January 2018 from N171.34 in December 2017.

“Likewise, average fare paid by commuters for bus journey intercity increased by 10.11 percent (MoM) and 32.09 percent (YoY) to N1, 889.69 in January 2018 from N1, 716.26 in December 2017.”

For motorcycle, the NBS noted that, “the average fare paid by commuters for journey by motorcycle per drop increased by 6.97 percent (MoM) and 27.37 percent (YoY) to N120.01 in January 2018 from N112.19 in December 2017.

Meanwhile, Vanguard analysis of NBS reports released couple of days ago showed that the average price paid by consumers for petrol and diesel rose by an average 7.5 percent month-on-month (MoM) in January.

Ex-NIPSS director faults FG on economy

Meanwhile, the former NIPSS director insisted that there was a substantial contraction and absence of correlation between what government declared as growth of Nigeria economy on paper and the actual quality of life of an average Nigerian.

Obafemi, who is also the President, Nigerian Academy of Letters made the submission at the 2018 Annual Lecture of the Nigeria Academy of Letters held at the Osun State University, Osogbo, in Osun State.


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