The fluctuations in the plasma potential (Vs̃) and electron density (Nẽ) are measured in the steady-state dipole plasma confined in a spherical vacuum chamber using a single permanent dipole magnet. Measurements are made from a radial distance r = 0.5–17 cm, from the surface of the magnet in the equatorial (θ=90°) and polar (θ=180°) directions, using a 4-pin probe setup, and have been characterized by power spectra, cross-phase, cross-coherence, induced transport, and energy spectra. The fluctuations are stronger near the surface of the dipole magnet for θ=90°, thereafter their magnitude decreases gradually with the radial distance. However, a peaked profile of potential fluctuations with the peak around r = 9 cm is observed for θ=180°. The locations of strong fluctuations are around the locations of smaller values of the electron neutral collision frequency. Frequency-resolved power spectra show that the fluctuations in the dipole plasma, predominantly, belong to the very low-frequency range. The values of cross-phase (≤45°) and |Vs̃/Te|/|Nẽ/Ne|≤1 indicate the presence of drift wave instability in both planes, where Te and Ne are equilibrium values of the electron temperature and density. The radial variation of fluctuation-induced electron flux (Γr) verifies the “inward diffusion” of electrons in the equatorial plane.