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.

Source:

National Bureau of Statistics

Period:

2023-2024
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Lagos State generated the vast majority of Nigeria's IGR at ₦1.3 trillion, accounting for over 35% of the ₦3.7 trillion total IGR
  • Nigeria’s total IGR in 2024 was ₦3.7 trillion.
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  • The South West led regionally with ₦1.7 trillion in total IGR.
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  • Economic disparity between regions remains wide, with Lagos alone outpacing entire regions.
Three US missions rank among the top five most expensive of Nigeria's foreign missions, receiving a combined ₦21.9 billion in 2025's budget
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  • Three US missions (New York PM, Washington, and New York CG) together account for ₦21.9 billion.
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West Africa has the highest concentration of remittance-dependent nations, with 10 countries in the top 20, led by The Gambia (21.1%)
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