Nigerians Spend More on Okada as Fares Rise 130% in 3 Years of Tinubu's Administration
- NBS Transport Fare Watch data showed that okada fares jumped from N464.55 in May 2023 to N1,072.51 in May 2026
- The sharp rise followed petrol subsidy removal and naira depreciation, which pushed up fuel and maintenance costs
- Transport fares also climbed across buses, intercity roads, air travel and water routes in May 2026
Legit.ng journalist Victor Enengedi has over a decade's experience covering energy, MSMEs, technology, banking and the economy.
Nigerians now pay more than twice as much for a motorcycle taxi ride compared to when President Bola Tinubu took office in May 2023, according to data from the National Bureau of Statistics.
Figures drawn from the NBS Transport Fare Watch reports for May 2023 and May 2026 show that the average okada fare climbed from N464.55 to N1,072.51 over the three-year period, a rise of N607.96, or 130.87 per cent.
Source: UGC
What Is Driving the Fare Increases
The surge in motorcycle transport costs traces directly to two major policy shifts that followed Tinubu's inauguration. The first was the removal of the petrol subsidy, announced on May 29, 2023, which caused fuel prices to spike across Nigeria almost immediately.
The second was the liberalisation of the foreign exchange market, which weakened the naira and made imported goods, including motorcycles, spare parts, lubricants, and fuel, far more expensive for operators to source.
Both factors combined to raise the cost of running a motorcycle commercially, and those costs have been passed on to passengers.
NBS Data: Month-on-Month and Year-on-Year Trends
The latest NBS report, covering May 2026, shows the upward pressure on fares has not eased.
According to the bureau:
"The average transport fare paid on Okada transportation stood at N1,072.51 in May 2026, representing a 3.56 per cent increase compared to the N1,035.69 recorded in April 2026. On a year-on-year basis, the average fare rose by 52.45 per cent, from N703.54 in May 2025 to N1,072.51 in May 2026."
By contrast, the May 2023 report recorded a far more modest trajectory:
"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."
Source: UGC
The NBS data also showed that rising costs were not limited to motorcycle transport in May 2026. Fares for intra-city bus journeys, intercity road travel, air tickets, and water transportation all increased during the same period.
Source: Legit.ng
