Home » News: Nigeria’s Okada Ride Prices Surge by Over 250% Increase in Average Transport Fare Over 4 Years, NBS Reveals

News: Nigeria’s Okada Ride Prices Surge by Over 250% Increase in Average Transport Fare Over 4 Years, NBS Reveals

by Atqnews
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OKADA

The National Bureau of Statistics’ Transport Fare Watch reports reveal a significant increase of 258.2% in the average transport fare for motorcycles, commonly referred to as “okada,” from May 2019 to May 2023.

According to the report, the average fare for okada rides rose from N129.69 in May 2019 to N464.55 in May 2023

The report for May 2023 read in part, “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.”

READ: News: ‘Okada ban’: National Bureau of Statistics says motorcycle importation in Nigeria decreased by 42%, accounting for over N212 billion in 2022

The report also disclosed that the highest okada fare was paid in Kwara while the lowest was in Edo.

It read, “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.”

It is expected that with the removal of the fuel subsidy, the average cost of okada rides will likely increase.

The average transport fare paid on motorcycles, rose by 36.75 per cent year-on-year in January 2023 this year as Nigerians struggled with the naira scarcity due to the naira redesign policy of the Central Bank of Nigeria and petrol scarcity.

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