Nigerians contend with over 258 per cent hike in Okada fares in four years – NBS

The last four years have seen Nigerian commuters confront over 258.2 percent rise in the transport fares charged by commercial motorcycles, popularly called Okada riders.

This is according to the latest statistics released by the National Bureau of Statistics (NBS).

NBS’ Transport Fare Watch reports indicated that a high percentage increase was recorded between May 2019 and May 2023.

It noted that the average fare for transportation on Commercial motorcyclists went up from N129.69 in May 2019 to N464.55 in May 2023.

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Specifically, the report for May 2023 stated thus: “The average fare paid on Okada transportation in May 2023 was N464.55, a 0.49 percent increase from the rate recorded in April 2023 (N462.29). On a year-on-year basis, the fare rose by 11.30 percent when compared with the value in May 2022 which was N417.39.”

Further noting that the highest Okada transport fare was recorded in Kwara State, the report disclosed that Edo state witnessed the lowest rate.

The report further nited: “Also, Kwara State had the highest motorcycle transport fare in May 2023 with N760.00, followed by Lagos with N750.04, while the least fare was recorded in Edo with N158.05.”

Making reference to the likely adverse impact of the fuel subsidy removal by the President Bola Ahmed Tinubu-led administration, the reports explained that there were clear indications that the average cost of Okada rides would continuously be on the increase across the country with Abuja, the Federal Capital Territory (FCT) being no exception.

Also putting the figures in perspective, the NBS noted that the average transport fare paid on commercial motorcycles transportation went up by 36.75 percent year-on-year in January 2023 this year as Nigerians struggled with the Naira scarcity due to the contentious Naira redesign policy of the Central Bank of Nigeria (CBN) as well as sudden petrol scarcity removal by the government (with Forefront report).