New Fuel Pump Price: Transport Companies Adjust Fares

• Transport companies across the country adjusted their fares amid amid rise in petrol prices at filling stations
• The adjustment was more felt on Nigerians trying to travel from one state to another, for witin the city bus fare reduced
• For intercity bus travel the highest fare was recorded in Anambra while the least fare was recorded in Kwara

Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

The National Bureau of Statistics (NBS) has revealed that the average cost of bus journeys within the city per drop averaged N869.35 in August 2024.

This represents a 7.77% increase in bus journey within the city when compared to the average fare of N942.61 reported in July 2024.

However, when the fare in August 2024 is compared to the same month in 2023, the cost of bus journeys within the city per drop declined by 34.95% from N1,336.38 in August 2023.

NBS disclosed this in its latest transport fare watch list report for August 2024, which was released on its website.

However in another category, the average fare paid by commuters for intercity bus journeys per trip was N7,159.00 in August 2024.

This is an increase of 0.59% on a month-on-month basis compared to N7,117.17 in July 2024.

On a year-on-year basis, the fare rose by 20.97% from N5,918.18 in August 2023

Nigerian states with highest, lowest transport costs

The report also provided a breakdown of state residents paid more for travel by bus.

10 states with highest bus journey intercity, state route

• Anambra: N9,580.85
• Gombe: N8,349.26
• Akwa Ibom: N8,223.15
• Delta: N8,209.18
• Abia: N8,140.00
• Bayelsa: N8,110.19
• Abuja: N8,081.39
• Cross River: N8,078.37
• Adamawa: N7,751.67
• Oyo: N7,675.51

10 states with bus journey within city

• Zamfara: N1,155.52
• Ondo: N1,065.20
• Taraba: N1,031.65
• Gombe: N1,015.90
• Jigawa: N1,004.07
• Imo: N1,003.89
• Enugu: N1,000.41
• Lagos: N965.94
• Plateau: N965.72
• Rivers: N959.13

Filling stations sell fuel at new price

Legit.ng earlier reported NNPC Limited has announced estimated petrol pump prices across all states, Nigerians should expect.

In Lagos, residents will now pay N920 per litre, while in some other states, a litre of petrol could go for as high as N1,056.

NNPC explained that the new prices for September are based on figures obtained from the Dangote refinery and not set by the federal government.

Source: Legit.ng