Skyrocketing Transport Fares Force Nigerian Traders to Shut Shops

The usual hustle of Nigerian markets is fading as hundreds of traders lock their doors. Soaring transport costs are eating deep into profits while sales and customer traffic decline. A recent Purchasing Managers Index report shows consumer spending is squeezed. Families now pay over ₦13,000 for groceries that cost ₦10,000 before, prompting smaller purchases or skipped essentials. Many traders say a single market trip can cost more than a day’s sales. “I close my shop three times a week to avoid wasting transport fare when there are no customers,” one trader explained. Another photographer revealed he now works from home to cut travel expenses. Data from the National Bureau of Statistics confirms an average urban transport fare of ₦1,195.75 per drop—a 27% rise since early 2025. Intercity bus fares jumped nearly 18% month-on-month to ₦9,564 in March 2026, making daily operations unsustainable for many small businesses.

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