Nigerians pay more for transport, food in June - NBS

The National Bureau of Statistics, NBS, said the average fare paid by committees for bus, motorcycle, air and water journeys continue to increase in June when compared to the May figures.

Similarly, the prices of beef, tomatoes and local rice sold loose increased month-on-month (MoM) during the review period.

In its Transport fare watch for June, NBS said: "The average fare paid by commuters for bus journeys within the city per drop increased by 97.88 percent from N649.59 in May 2023 to N1,285.41 in June 2023.

“In another category, the average fare paid by commuters for bus journey intercity per drop rose to N5,686.49 in June 2023, indicating an increase of 42.09 percent on a MoM basis compared to
N4,002.16 in May 2023.

“In air travel, the average fare paid by air passengers for specified routes’ single journey increased by 4.93 percent from N74,948.78 in May 2023 to N78,640.54 in June 2023.

“The average transport fare paid on Okada transportation was N618.52 in
June 2023 which was 33.14 percent higher than the rate recorded in May 2023 (N464.55).

“For water transport (waterway passenger transportation), the average fare paid in June 2023 increased to N1,366.22 from N1,045.15 in May 2023. “

On food prices, NBS in its Selected Food Price Watch for Junesaid :”Selected Food Price Watch for June 2023 shows that the average price of 1kg of Beef boneless stood at N2,653.02 in June 2023.

“This indicates a growth of 27.5 percent on a year-on-year basis from N2,079.93 recorded in June 2022 and a 5.26 percent rise on a MoM basis from N2,520.52 in the previous month.

"Also, the average price of 1kg of Tomato increased by 24.8 percent on a year-on-year basis from N438.33 in June 2022 to N547.28 in June 2023.

“On a MoM basis, the average price of the product increased by 9.8 percent .
“The average price of 1kg of Rice local (sold loose) rose by 32 percent on a year-on-year basis from N460.17 in June 2022 to N608.20 in June 2023.

“On a month-on-month basis, it increased by 9.5 percent from N555.18 in May 2023.