…As global inland water transport target $1.6 billion in 2022

By Providence Ayanfeoluwa

The Rivers and Bayelsa States topped the list on the highest water transport fare with average of N2, 825 and N2, 757.14 respectively, while Gombe and Borno States followed with least average fare of N405.5 and N328.15 respectively in February 2022.

Report from the National Bureau of Statistics, NBS, Transport Fair Watch February 2022, showed that the average fare paid for water transport in February 2022 stood at N 913.13 showing an increase of 2.80 percent month-on-month from N888.24 in January 2022.

On year-on-year, the fare rose by 15.0 percent from N794.02 in February 2021 to N913.13 in February 2022.

Meanwhile, a recent report on Inland Water Passenger Transport Global Market Report 2022, revealed that the global inland water passenger transport market is expected to grow from $1.49 billion in 2021 to $1.6 billion in 2022 at a compound annual growth rate, CAGR of 7.0 percent, while the market is expected to grow to $1.99 billion in 2026 at a CAGR of 5.7 percent.

The inland water passenger transport market consists of sales of inland water passenger transportation and related services by entities (organizations, sole traders, and partnerships) that provide inland water transportation of passengers on lakes, rivers, or intra-coastal waterways.

The main passenger transportation type in the inland water passenger transport market are canal passenger transportation, intercostal transportation of passengers, lake passenger transportation, water shuttle services, river passenger transportation, ship chartering with the crew, and water taxi services.

The lake passenger transportation provides inland water transportation of passengers on lakes.

The market is segmented by mode into cruise ships, cargo-passenger ships, ferry ships, and others, and by application into the supply chain, distribution, and end customers.

The countries covered in the inland water passenger transport market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.