Average waterway transport fares in Nigeria stable at N1,385 in May 2024

The average fare for waterway transportation in Nigeria in May 2024 was N1,385.95, maintaining the same rate as the previous month.

This information comes from the May 2024 Transport Fare Watch report, recently released by the National Bureau of Statistics (NBS).

The report also highlights a significant year-on-year increase of 32.61% in the average fare, up from N1,045.15 in May 2023.

“For water transport (waterway passenger transportation), the average fare paid in May 2024 was N1,385.95 which remains the same when compared to the previous month (April 2024). On a year-on-year basis, it increased by 32.61% from N1,045.15 in May 2023,” the NBS report read in part.

Additionally, the NBS report noted that, based on geopolitical zone analysis for May 2024, the South-South zone had the highest fare for water transport at N3,525.00. This was followed by the South-West at N1,350.00, while the North-East had the lowest fare at N768.33.

Passengers in the North Central zone paid an average fare of N985.71, the South East zone recorded an average fare of N985.71, and the North West had an average fare of N842.86.

More insight

The analysis of the average fares for waterway transportation across the 36 states of the federation and the Federal Capital Territory, Abuja, in May 2024 revealed significant variations.

• Bayelsa State recorded the highest fare for waterway transportation, with passengers paying an average of N4,500 per trip. Delta State followed closely, with an average fare of N4,200 per trip, and Rivers State was third with N4,000.
• Cross River and Edo states both had average fares of N3,000, while Akwa Ibom State had an average fare of N2,450. Osun State also featured prominently in the higher fare category.
• On the other end of the spectrum, Borno State had the lowest average fare for waterway passenger transportation in May 2024, with passengers paying an average of N450 per trip. Gombe State followed with an average fare of N560, and the Federal Capital Territory recorded an average fare of N630.
• The fourth position among the states with the lowest average fares was jointly held by Zamfara, Yobe, Taraba, and Abia states, each with an average fare of N700. Kebbi State had an average fare of N750, and Niger State recorded an average fare of N800.

This comprehensive analysis highlights the significant disparities in waterway transportation costs across Nigeria, reflecting the diverse economic and geographical factors influencing fare rates in different regions.