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Navigating the Economic Tides: Stay Informed with our Latest Transportation News & Insights.

The impact of Ride-Sharing on the Taxi Industry

Ride-sharing is rapidly growing across the world, and the ride-sharing industry is projected to keep on growing with faster and more efficient technologies. The future of the ride-sharing industry looks vibrant with a plethora of technological advancements on the horizon. Taxi services, representing the traditional taxi industry, have been around for decades, providing people with a safe and dependable way of commuting. However, with the ride-sharing industry making headlines in ride-sharing company news frequently, it’s essential to understand this trend’s influence on the taxi industry. This blog post will delve into how ride-sharing will reshape the taxi sector and paint a picture of the future of the ride-sharing industry.

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Cost of transportation increased by 98% in one month – NBS

The average fare paid by commuters for bus journey intercity per drop rose to N5,686.49 in June 2023 compared to N4,002.16 in May 2023 indicating an increase of 42.09 per cent on a month-on-month basis. The report read, “The average fare paid by commuters for bus journeys within the city per drop increased by 97.88 per cent from N649.59 in May 2023 to N1,285.41 in June 2023. On a year-on-year basis, it rose by 120.63 per cent from N582.61 in June 2022.

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Fuel Subsidy Removal: Cost Of Smaller Vehicles Skyrocket

Car owners are currently reconfiguring their usage patterns by shifting focus to smaller, more fuel-efficient vehicles to cope with the rising cost of fuel after the removal of subsidy, Daily Trust Saturday reports. One of the effects of the fuel subsidy removal, which jacked up the price of PMS from N189-N190 per litre to as high as N530 per litre early last month, was the forced readjustment Nigerians had to make in their lifestyle.

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MyCoPilot enters Nigeria’s ride-sharing market, targets local car owners

MyCoPilot, a digital ride-sharing service designed to provide local travellers with much better travel options in Nigeria, covering more than 6 major cities has been launched in Lagos state. According to the company, users can freely book a seat with a private vehicle owner headed their way on a fixed date and pay a fare price for a luxurious, more private, and interesting journey while private vehicle owners (drivers) can premise their travel plans and have people pay to join them on their journey.

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8 of the best places to visit in Nigeria

After a day or two, most visitors to Nigeria wish they had planned to stay longer in the country. Once they start seeing the sights, and meeting the people, they realize that there is way more to do than they had believed possible. Don’t make the same mistake – give yourself a long leash. For administrative ease, the country’s 36 states are grouped into six geopolitical zones. If you intend to stay in more than one state, plan your travels along the same lines; pick an anchor city, and take things one state or zone at a time. In the South-South, for example, the scenic and slow-paced city of Uyo can be your base to explore the Niger Delta states. In the North East, Bauchi is a perfect base to explore the rocky landscapes of Plateau, Adamawa, Borno and Taraba states. Narrow down your list with these top places to visit in Nigeria.

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Lagos traffic jams disappear. But this isn't good news for Nigeria

Since June, fuel costs have tripled, leading transport fares to shoot up and forcing many employees to return to the pandemic era by working from home. Many private cars are off the roads. And with fewer passengers to tussle over, some of the yellow, fume-belching buses, pride of the city's eternal hustle spirit, now idle at motor parks. The notorious miles-long traffic jams have drastically reduced. This bustling city of an estimated 20 million people is quieter, but for once that is not a good thing.

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Abuja commuters spend 60% on transportation

Abuja residents said they now spend over half of their salaries on transportation as commercial transporters have hiked fares on the back of the increase in the pump price of petrol. This has not only worsened the high cost of living in the town but has also heightened the call for the return of the Abuja mass transit system, popularly called ‘El-rufai’ buses, which comfortably conveyed at least 40 persons per trip at affordable rates. Currently, the majority of Abuja population, which according to the United Nations grew to 3,464,000 in 2021, rely on commercial taxis to move around even for long distances.

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Harnessing hospitality, travel and tourism to grow Nigeria’s economy by N3.5tn

The inaugural speech of President Bola Ahmed Tinubu touched on the priority areas for this administration, with social cohesion as a key theme to garner a stronger sense of self, identity, belonging and place. Tourism and the related cultural and creative industries can play a strong role in deepening the understanding of a destination, even for its residents, as well as promoting recreational and leisure activities which expand the horizon, and enhance quality of life, and social cohesion, whilst contributing to the internally generated revenues both for residents, domestic tourists and international tourists. What needs to be done? The tourism industry requires a concerted, comprehensive and systematic approach to enable it to harness the transformative potential of tourism for development. This potential is indeed transformative as can be observed from countries such as Portugal which have deepened their focus on tourism, given its ability to ignite the development of other industries and sectors (as in the case of Portugal, the technology space and start-up scene). This is not a request for another tourism master plan.

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You can download the MyCoPilot application from the Google Play Store for android devices and the App Store for IOS devices.

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