The cost of bus fares for intracity journeys rose by 98% after the fuel subsidy removal, with a 39% increase in just 18 months
After the fuel subsidy was removed, the cost of bus fares for intracity journeys rose by 98% between May 2023 and June 2023. In just 18 months, fares increased by 39% significantly affecting commuters.
Nigeria’s year-on-year food inflation rose for the fourth consecutive month, from 8.89% in January 2026 to 16.96% in May.
The rate increased by 8.07 percentage points within the first five months of 2026.
May’s 16.96% rate means food prices were, on average, 16.96% higher than they were in May 2025.
Food inflation rose from 12.12% in February to 14.31% in March and 16.06% in April before reaching 16.96% in May.
Food inflation exceeded Nigeria’s 15.93% headline inflation rate in May, showing that food was a major source of renewed pressure on household expenses.