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Business News of Friday, 29 May 2020

Source: www.mynigeria.com

BRT increases bus fares by 50%

BRT Bus BRT Bus

The Managing Director of Primero Transport Services Limited, operators of the Bus Rapid Transport, Mr Fola Tinubu, has announced that there will be an increase in abuse fares by 50 per cent.

The decision to increase fares was approved by the regulator of the sector, the Lagos State Metropolitan Area Transport Authority,due to the effects of COVID-19, the company announced on Thursday.

Earlier, the News Agency of Nigeria reported that the company withdrew its services on Monday due to losses caused by the new guidelines of government which restricted the number of commuters on BRT to 20 per trip instead of 70.

The BRT Managing Director, Mr Fola Tinubu, told NAN that the management of the company would resolve the issues after a meeting with government.

Tinubu's announcement after the meeting read: “We are going to increase our pricing effective from Friday, May 29 (today). We agreed on this after our talk with the Lagos State Government.

“Everywhere commuters are paying N200 for a trip, it is going to be N300 and everywhere commuters are paying N300 per trip, it is going to be N500.

“We are increasing our fares. We have secured the permission of the regulator, Lagos State Metropolitan Area Transport Authority.”

He said the number of passengers on the buses would also be increased to 42, with no passenger standing on buses as against 20 earlier approved by the government.

The LAMATA External Relations Specialist, Kola Ojelabi, confirmed the development.