The Transport Fare Watch report by the National Bureau of Statistics (NBS) has shown that Nigerians faced higher transportation costs in February 2026, as airfares and motorcycle transport charges recorded notable increases.

According to the latest report, the average airfare for specified routes increased to N153,647.95 in February, reflecting a 1.51 per cent rise from January and a 21.38 per cent jump year-on-year.

Similarly, the average fare paid for Okada rides increased to N920.95, up 4.82 per cent month-on-month and surging 53.26 per cent compared to February 2025, making it one of the fastest-rising transport segments.

Within cities, bus fares recorded a marginal increase of 0.74 per cent to N1,195.75 in February from N1,186.98 in January, while intercity bus fares dropped by 4.65 per cent to N8,108.81, offering slight relief to long-distance travellers.

The Bureau said, “The average fare paid by air passengers for a specified route’s single journey was N153,647.95 in February 2026, showing an increase of 1.51 per cent when compared to the previous month.

“The average transport fare paid on Okada transportation was N920.95 in February 2026, which shows an increase of 4.82 per cent when compared with the value recorded in January 2026.

“The average fare paid by commuters for bus journeys intercity per drop was N8,108.81 in February 2026, indicating a decrease of 4.65 per cent on a month-on-month basis compared to N8,504.39 in January 2026.”

Also, water transport fares edged higher to N2,097.30 in February, representing a 0.55 per cent monthly increase and a 31.66 per cent rise year-on-year, highlighting persistent cost pressures across transport modes.

State-level analysis showed that Abia and Ogun recorded the highest intercity bus fares, while Kwara and Edo posted the lowest.

Lagos led in intra-city bus fares, while Kano recorded the highest airfares. Kaduna topped Okada charges, while Rivers and Bayelsa dominated water transport costs.

Across regions, the South West recorded the highest average fares for intra-city bus and motorcycle transport, while the South South led in air and water transport costs.

The North East consistently posted the lowest fares across several categories, reflecting regional cost differences in mobility.

The development followed a recent hike in global prices of crude oil and Premium Motor Spirit (PMS) or petrol as a result of the worsening war in the Middle East.

Oil tumbled more than 3% on Wednesday, reversing earlier gains as persistent Middle East volatility ‌unnerved markets even amid reports that the U.S.-Israeli war with Iran could be winding down.

The front-month Brent contract for June fell $3.33, or 3.2%, to $100.64 per barrel at 0641 GMT. U.S. West Texas Intermediate (WTI) crude futures for May slipped $3.34, or 3.3%, to $98.04 per barrel.

Prices rose earlier on Wednesday but turned lower as ​uncertainty over the Middle East conflict prompted investors to lock in gains.

Brent futures ​for June delivery settled down more than $3 on Tuesday following unconfirmed media reports that Iran’s president was ready to end ​the war.

President Donald Trump told reporters on Tuesday that the U.S. could end the military campaign within two to three weeks and that Iran does not have to make a deal to end the conflict, his clearest declaration yet that he wants to wind down ​the month-long war.

In Nigeria, the Dangote Petroleum Refinery and Petrochemicals reduced its gantry price for petrol to ₦1,200 per litre last Friday.

A statement sighted by Channels Television, the spokesperson for the Dangote Group, Anthony Chiejina, said the refinery pegged its coastal price at ₦1,153 per litre, a development expected to reshape fuel supply costs across Nigeria’s downstream distribution chain.

The refinery had recently increased its petrol price from ₦1,175 per litre to ₦1,245 per litre.

A spike in PMS prices equally led to a nationwide increase in commuting fares, including prices of food and services.

Before the war between Iran, US, and Israel, notably before May 2023, petrol sold below N900 per litre. (Channels)