Transport fares continued to increase across different modes of transportation in January 2023. According to the National Bureau of Statistics report on transportation in January, the average fare paid by commuters for buses within the city per drop increased from N644.66 in December 2022 to N650.70 in January 2023.
March 30, 2023
Nigeria Economic Update(Issue 9)
Related
Nigeria Economic Update (Issue 32)
The naira continued its
downward trajectory this week. Specifically, naira depreciated at the interbank
segment by 3.45 percent to N300/$; and by 3.56 percent to 378/$ at
the parallel segment. Despite the CBNs effort to support the naira
with Forwards and FOREX futures, the excess demand for dollar continues to put
pressure on the naira. Looking forward, the stabilization of exchange rate
depends on the ability of the CBN and government to attract capital inflows;
particularly by raising interest rate, tackling inflation and supporting
economy recovery.