Sanwo-Olu to end 50% slash in Lagos bus fares from April 1
The government had introduced the 50% reduction some weeks before the general elections as a palliative measure against the effect of naira scarcity.
This was contained in a statement by the Lagos Metropolitan Area Transport Authority (LAMATA) on Tuesday, March 28, 2023, in which the government stated that fares of state-owned buses will return to their original rates from the said date.
Recall that Lagos State Governor, Babajide Sanwo-Olu, had in early February introduced the 50% reduction on all state-owned transport services as a measure to cushion the effect of the bitting naira and fuel scarcity faced by residents of the state.
But, the statement from LAMATA on Tuesday announced the reversal of the policy, adding that it will take effect on the first day of next month.
The statement read: “With effect from Saturday, April 1, bus fare on all regulated buses — BRT, standard and FLM — shall revert to 100 per cent rate.
“Lagos State Governor, Babajide Olusola Sanwo-Olu, had on Wednesday, February 8, 2023, approved a 50% slash in bus fares following the cash crunch brought about by the recent currency swap.
“Following the Supreme Court and Federal Government’s pronouncements on the use of old notes alongside the new notes and return of stability to the system, the 50% rebate is hereby discontinued.”
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