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Cost of Bus Transportation in Nigeria Rises 50% in One Year
By Ashemiriogwa Emmanuel
The average bus fare paid by commuters for journeys within cities across states of the federation increased by 50 per cent year-on-year to N430.58 per drop constant route in August 2021 from N286.99 in the same time of last year.
According to the latest report from the National Bureau of Statistics (NBS), the cost of bus transportation also increased by 5 per cent month-on-month from N410.2 in July 2021.
A look at the price watch for individual states showed that residents of Zamfara and Bauchi States paid the highest average fare for bus Journey within cities during the review period at N670.3 and N635.1 per drop constant route respectively.
This was followed by Taraba State where commuters paid approximately N550.1 on average for bus transportation within cities in the state.
In contrast, Oyo State recorded the lowest average price during the reference period as people paid N220.5 to move by bus from one city to another within the inland state of southwestern Nigeria.
Behind this were Abia and Borno States where the average cost of the bus transport service stood at N239.4 and N297.2 respectively.
Similarly, the average fare paid by commuters for bus journeys from one city to another (intercity) also went up by 1.8 per cent month-on-month to N2,588.7 in August 2021 from N2,542.95.
According to the data, the state with the highest bus journey fare intercity within the period was the Federal Capital Territory, Abuja where people paid N4,700.1 to travel to another city.
This was followed by Lagos and Sokoto where it recorded an average price as high as N3,600.0 and N3,450.2 respectively, while the lowest average cost was recorded in Bayelsa (N1,859.36), Bauchi (N1,900.60), and Akwa Ibom (N1,950.20) accordingly.
Air Transportation
According to the stats office, the average price paid by air passengers went up by a marginal 0.1 per cent month-on-month within the period to N36,805.41 for specified routes single journey in August from N36,793.24.
This also showed a 0.53 per cent year-on-year increase from N36,611.2 published for the same time last year.
The report showed that Rivers and Edo States recorded the highest average cost of air travel at N38,900 and N38,500 respectively, which was followed by the country’s largest economic hub, Lagos where it cost N38,200.
However, the lowest airfare was recorded in Akwa-Ibom at N33,100, Sokoto at N33,700, as well as and Gombe at N35,200 according to the order of listing.
Motorcycle Transportation
Observing the price watch for motorcycle transportation in the country, it the average fare paid by commuters per drop increased by 3.2 per cent month-on-month to N303.25 in August 2021 from N294.02.
On a year-on-year basis, it also went up by 54.2 per cent from N196.7 it cost last year.
In addition, commuters in Yobe who opted for motorcycle transportation within the period paid the highest average at N500.5 per drop. Behind this were Lagos and Taraba state where it cost N487.2 and N465.1 respectively.
However, it was paid for at the lowest in states like Adamawa at N107.1, Niger at N180.1, as well as, Katsina at N180.3 per drop.
Waterway Transportation
The average fare paid by people who travelled by water within the period under review similarly increased by 1.9 per cent month-on-month to N848.2 in August 2021 from N831.97, marking a 23.6 per cent year-on-year increase from N686.7.
The fare for waterway transport recorded the highest average in the southern part of the country, particularly in the oil-producing state, Delta at N2,550.5, followed by Bayelsa at N2,500.47, and Rivers at N2,300.1.
On the other hand, passengers paid the lowest waterway transport fare within the period in states such as Borno (N270.64), Kebbi (N360.11), and Taraba (N380.20).
By Adedapo Adesanya
Mobility fintech, Moove, has raised $250 million in a Series C round, valuing the company at $2.1 billion, finally attaining a long-pursued unicorn status.
The round was led by Mubadala Investment Company and co-led by Woven Capital, Toyota’s growth fund, and Ion Pacific. New backers BlueCrest Capital Management, Sona Asset Management and The Raptor Group also joined, alongside existing investors BlackRock, MUFG, Franklin Templeton, Uber and others.
The funding will help Moove expand its autonomous vehicle business by investing in fleet ownership and its robotics-powered depots, known as “Nests,” where autonomous vehicles are charged, maintained, serviced and managed for continuous operation.
Through its partnership with Waymo, Moove is already a leading third-party autonomous fleet operator, with operations live in Phoenix and Miami, and future operations in London.
The capital will also support the company’s expansion into new global markets. As part of the growth plan, Moove expects to increase its autonomous vehicle workforce by more than 220 per cent by the end of the year, growing from about 150 employees to around 500.
Moove said scaling autonomous mobility requires more than just self-driving vehicles. It also needs investment in fleets, charging infrastructure, maintenance facilities and operational systems. The company is building this supporting infrastructure to make autonomous transport reliable and scalable across cities.
Moove started in Africa in 2020 by financing cars for drivers working on ride-hailing platforms. It later entered the UAE, India, the US and the UK. The company also works with Uber, which joined a $100 million funding round in 2024 that valued Moove at $750 million. The new valuation is 2.8 times that level.
Speaking on the deal, the co-chief executive and Advisory Board Chairman of Moove, Mr Ladi Delano, said, “Every major technology revolution becomes an infrastructure race. The internet required data centres. AI required compute. Autonomy requires fleets, charging, maintenance, data systems and 24/7 operations in every city – and that is what Moove is building. In our view, as autonomy scales, infrastructure ownership and operations will define the category leaders. We are building to be one of them.”
On his part, Mr Ali Eid AlMheiri, Executive Director of Diversified Assets, UAE Investments Platform at Mubadala, said: “As autonomous mobility moves from innovation to scaled deployment, the infrastructure supporting it becomes increasingly important. Moove is building an integrated operating platform that combines fleet ownership, operational capability, and technology to support the next phase of growth in autonomous mobility. This is particularly important for the UAE.”
Adding her input, Ms Betty Lee, Principal at Woven Capital (Toyota’s Growth Fund), said, “Moove has demonstrated an exceptional ability to execute across markets, building a global platform across traditional and autonomous vehicle fleets. The next wave of mobility is an infrastructure problem as much as a software one, and Moove is building the foundational layer to solve it.”
For Mr Michael Joseph, co-CEO & Co-Founder of Ion Pacific Limited, said: “We’ve partnered with the Moove team for more than five years, and their execution has consistently impressed us. As autonomous mobility moves from possibility to reality, Moove is building a critical infrastructure layer for the sector – one that is complex, adaptive and essential to scaling AVs. We’re excited to be part of that journey.”
By Aduragbemi Omiyale
The corporate mobility solution from Bolt, Bolt Business, has expressed its desire to strengthen relationships with existing customers in Nigeria by introducing solutions tailored to industries with frequent employee mobility needs, including healthcare, financial services, legal services and logistics.
This is as the organisation, over the past 12 months, delivered double-digit growth in the country, driven by expanding adoption across multiple industries, growing demand from small and medium-sized enterprises (SMEs), and an increasing number of firms seeking cost-efficient alternatives to managing in-house transport fleets.
The Country Manager for Bolt for Business Nigeria, Mr Isaac Iroko, disclosed that the smarter mobility solutions being planned will improve visibility, simplify expense management and support business growth.
“Our focus remains on building products that create value for organisations of every size while delivering a seamless experience for their employees,” he stated.
Bolt Business has continued to experience an increasing demand from businesses seeking smarter, more efficient ways to manage employee transportation and business travel.
It serves organisations across a broad range of industries, including financial services, technology, healthcare, professional services, manufacturing, logistics, media, real estate and fast-growing consumer businesses.
The growth reflects a broader shift in how Nigerian businesses approach corporate mobility. Rather than maintaining expensive vehicle fleets or relying on fragmented transport arrangements, more organisations are adopting digital mobility platforms that offer greater transparency, control and operational efficiency.
“Businesses today are looking beyond transportation; they’re looking for smarter ways to optimise operations and manage costs.
“We’ve seen organisations across different sectors embrace Bolt Business because it gives them a simple, reliable and transparent way to manage employee travel, whether it’s daily commutes, client meetings or business trips.
“This growth demonstrates that corporate mobility is becoming an increasingly important part of business efficiency in Nigeria,” Mr Iroko stated.
Unlike traditional fleet management, Bolt Business enables companies to centralise transportation through a single platform, providing features such as centralised billing, trip reporting, spending controls and real-time visibility into employee travel. These capabilities help businesses improve oversight while reducing the administrative burden associated with corporate transportation.
By Modupe Gbadeyanka
To boost economic activities in Lagos Island and support residents, the chief executive of the Lagos State Lotteries and Gaming Authority, Mr Bashir Are, sponsored the training of eight persons at the LagRide Drivers Academy through the LagRide Partner Programme.
Mr Are funded both the academy training and the vehicle costs, removing the two barriers that most frequently prevent qualified drivers from entering formal, structured employment in the mobility sector.
The beneficiaries were handed over keys to their vehicles at a ceremony in Lagos on Tuesday, July 21, 2026.
They now operate a LagRide vehicle under the platform’s Drive To Own programme, which allows a Captain to earn daily income while working towards full ownership of the vehicle at the end of the agreed payment term.
“The initial capital required to be onboarded was never going to come from these young men, so we provided that intervention financially so that they can have good employment.
“Lagos is a megacity. My agency runs the largest gaming and fintech conference on the continent every year, and when those delegates arrive, we do not want them driven around in poor vehicles. This is also employment for our own people, and we have a great deal of unemployment and underemployment in this country.
“These Captains are from Lagos Island Local Government, and they can now take care of their own families. Let me be clear about one thing. This is not a project. It is a programme, and it continues,” Mr Are stated.
Also speaking, the chairman of LagRide, Ms Diana Chen, said, “Today is just a new beginning, and more and more people will come. More local governments will join us, and one day we want to bring the Governor here so that this programme runs across the state.
“LagRide is a platform where a person comes to take a job and ends up owning the vehicle. It is also a platform that any government, or any organisation with a social development or CSR mandate, can use to empower the people they want to support. The people get their own asset at the end of it.”
On her part, the lawmaker representing Lagos Island Constituency I in the Lagos State House of Assembly, Mrs Omolara Oyekan-Olumegbon, said, “Everyone keeps saying there are not enough jobs for our youths. This is our own way of ensuring that they are empowered.
“When you give a person money, it is money, and it finishes. This is the difference between giving a man a fish and teaching him how to fish. You are giving these young men something they can use to take care of themselves, their families and their homes.
“We must thank the chief executive of the Lagos State Lotteries and Gaming Authority for doing this, and I must also thank Chief Diana Chen. Lagos Island is a commercial hub, and we intend to keep the flag flying. This is the beginning, and we will be coming back to ask for more.”
