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Cheap Gasoline Fails To Curb Rising Transport Fares in Nigeria

  • Intracity bus fares increased 46% in May from a year earlier
  • Nigeria to spend $9.5 billion subsidizing petrol this year
     

     

Photographer: Luis Tato/Bloomberg

Transportation fares in Africa’s largest economy are surging even as the country spends billions of dollars subsidizing gasoline to curb prices and temper public discontent over the high cost of living. 

The average cost of an intra-city bus journey increased 46% to 582 naira ($1.39) a trip in May compared with a year earlier and flight tickets soared 53% over the same period to 55,907 naira, according to data released on the National Bureau of Statistics’s website.