The average transport fare paid on motorcycles (popularly known as okada) rose by 258.2 per cent between May 2019 and May 2023.
This is according to the Transport Fare Watch reports by the National Bureau of Statistics (NBS).
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″.
The report also disclosed that the highest okada fare was paid in Kwara State while the lowest was in Edo State.
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.
