The average okada (motorcycle) fares increased by 258.2% between May 2019 and May 2023.
This is according to the National Bureau of Statistics’ Transportation Fare Watch publications.
The average okada fare increased from N129.69 in May 2019 to N464.55 in May 2023, according to the research.
Part of the May 2023 report reads:
“The average fare paid on Okada transportation in May 2023 was N464.55, a 0.49 per cent increase from the rate recorded in April 2023 (N462.29). On a year-on-year basis, the fare rose by 11.30 per cent when compared with the value in May 2022 which was N417.39.”
The data shows that Kwara had the highest okada fare, while Edo had the lowest.
It further states:
“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.”
The average cost of okada trips is predicted to rise when the fuel subsidy is phased out.
The average motorbike price increased by 36.75 percent year on year in January 2023, as Nigerians suffered with naira shortage as a result of the Central Bank of Nigeria’s currency redesign strategy and petrol scarcity.
cc: Punch Ng
