Nigerians have spent 130.87 per cent more on motorcycle (okada) transportation over the three years since President Bola Tinubu assumed office, as higher fuel prices and the depreciation of the naira continued to increase transportation costs across the country.
Analysis by The PUNCH of the National Bureau of Statistics’ Transport Fare Watch reports for May 2023 and May 2026 showed that the average fare paid for an okada trip rose from N464.55 in May 2023 to N1,072.51 in May 2026, representing an increase of N607.96, or 130.87 per cent.
The increase followed the removal of the petrol subsidy announced by Tinubu on May 29, 2023, which led to higher petrol prices nationwide. The situation was further worsened by the liberalisation of the foreign exchange market and the subsequent depreciation of the naira, which raised the cost of fuel, motorcycles, spare parts, lubricants and vehicle maintenance.
The latest NBS report also
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