The Lagos State Governor, Akinwunmi Ambode, has approved 50 percent increment in fare for Bus Rapid Transit (BRT) and LAGBUS.
The change will take effect as from March 1, 2017.
This was disclosed by Engr. Abiodun Dabiri, LAMATA Managing Director, while addressing journalists at Bagauda Kaltho Press Centre, Alausa, on Monday.
Dabiri explained that the bus fare was increased by 50 percent due to the economic downturn in the country.
He said, “As a result of the economic downturn, public transport has been severely impacted as all related costs have escalated beyond any financial projection.
“Although the government is focused on a strategic reform of the public transport operations to create a world-class public transport that is modern, cost-effective and safe, the government has to consider the request of the operators for an upward review of bus fares due to the current prices for some of these schemes, which have stayed constant for more than six years.
“The current financial crunch has seen average cost of operations increase to about 110 per cent. With the cost of fuelling going up by 71 per cent, oil prices up by 64 per cent, tyre by 90 per cent, continued operations are threatened.
He added that the measure taken by the Lagos state government was to prevent the transport franchise from collapsing.
“In order to avert a collapse of the scheme, which currently serves over 500,000 commuters daily, the Lagos State Government has to consider the request of the operators for an upward review of bus fares.
“Consequently, Governor Akinwunmi Ambode has approved a fare increase for the operators effective from Wednesday, March 1, 2017. The average increase approved ranges from 20 per cent to 50 per cent on different routes.
“The fare increase differs in various routes. For instance, a ride on BRT from Ikorodu to CMS, which cost N195 is now N300, while a trip from Ikorodu to Mile 12, which used to cost N75 has moved to N100, Ikotun to Ikeja has moved up from N100 to N200 among others,” Dabiri added.