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Business News of Tuesday, 7 November 2023

Source: www.nairametrics.com

Lagos State implements 25% discount on transport fare from today

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The Lagos State Government through the Lagos Metropolitan Area Transport Authority (LAMATA) has directed the implementation of a 25% transport fare discount on all Lagos State Public Transport System.

This disclosure is contained in a public notice issued by LAMATA on Monday, November 6, 2023, and can be seen on its official X (formerly Twitter) account.

LAMATA in its notice announced that the implementation of the 25% fare reduction will begin on Tuesday, November 7, 2023, on LAMATA-controlled transport bus and rail transport.

Recall that days ago Nairametrics had reported that the Lagos State Government had directed that the 50% transport fare discount on all Lagos State Public Transport System implemented in response to Governor Babajide Sanwo-Olu’s directive on August 2, 2023, should end last Sunday, thereby reverting transportation fares to their pre-discount rates.

The agency disclosed that Governor Sanwo-Olu’s extension of the passenger fare reduction by 25% across the Lagos State Public Transport System was due to appeals for the reinstatement of a 50% rebate for LAMATA-controlled bus and rail transport.

The statement further explained the hike in the pump price of diesel within the three-month period of the rebate necessitated the government’s decision to initially put an end to the discount on the fares of Lagos State Public Transport System announced in August.

What LAMATA is saying

The statement from LAMATA reads: “Responding to calls for the reinstatement of the 50% rebate on fare for regulated bus and rail transport, Governor Babajide Sanwo-Olu has directed the implementation of 25% discount beginning Tuesday, 7th November 2023.

“Governor Sanwo-Olu had on 2nd August 2023 announced a 50% discount in fare on regulated transport bus and rail transport which ended on Sunday.
“Following appeals to the Governor, he has extended the passenger fare reduction by 25% across the regulated bus and rail transport services until another review announcement.

“Within the three-month period of the rebate, the pump price of diesel jumped from N867 in August to N1,300 in November 2023 representing about a 50% jump.”

What you should know

Recall that on July 31, Governor Babajide Sanwo-Olu announced the reduction of transport fares of state-owned buses by 50% as well as commercial yellow buses by 25% on all routes as part of efforts to cushion the effect of the removal of the petrol subsidy.

Governor Sanwo-Olu disclosed that the bus fare reduction was supposed to take effect from Wednesday, August 2, 2023.

The governor also announced the expansion of the Fleet of Staff Buses for the Workers in the Lagos State Public Service to cushion the effect of the Subsidy removal, adding that the buses are ready and will be deployed through the office of the Head of Service of the state.