The effect of the bad economy keeps ravaging crucial sectors as private transport owners have announced a 25 per cent increment in fares between Nigerian states.
This was contained in a memo issued on Tuesday by the Association of Private Transport Company Owners of Nigeria -APTCON, addressed to operators under its aegis.
According to the internal memo titled, “Notification of Price Increase Effective 25th August 2022,” private interstate passenger transport company owners of Nigeria are required to hike bus fares across all interstate routes by 25% effective from 25th August 2022.
This is coming as a sequel to the prevailing harsh economic situation in the country as well as the recently announced increase in petrol pump price nationwide, the board of APTCON, in line with its member companies, have deliberated and unanimously agreed that a marginal increase in interstate transportation fares is inevitable,” the memo further clarified.
The body also explained that this increase was borne out of the “downturn that has greatly affected all sectors of the economy most especially in the transportation sector. In response to the high cost of operations, while several trade associations have increased charges as a means of survival, some others, like the elitist airlines, have gotten post-pandemic intervention funds from the government.
