People may have to budget a bit more for transport in Lagos State. A few days after Governor Akinwunmi Ambode made known his intention to phase out danfo by the ending of the year, he approved the increase in LAGBUS and BRT fares effective March 1st this year.

Lagbus are the blue buses run by the Lagos State Metropolitan Transport Authority (LAMATA). MD of the agency, Mr Abiodun Dabiri said the increase was due to spiraling cost of fuel, and spares such as oil and tyres.

Lagbus MD Mr Idowu Oguntona on the other hand, said that the new fare regime would affect the 63 routes the firm covers.

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Twitter user Seyi Osiyemi made this known in a series of tweets.

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He also posted the new fares for selected routes.

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Do not be suprised if the danfo drivers follow suit. Galloping inflation and difficulties in accessing foreign exchange, have made operating in the transport sector a night mare.

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Onome Ohwovoriole has a degree in Economics and Statistics from the University of Benin and prior to joining Nairametrics in December 2016 as Lead Analyst had stints in Publishing, Automobile Services, Entertainment and Leadership Training. He covers companies in the Nigerian corporate space, especially those listed on the Nigerian Stock Exchange (NSE). He also has a keen interest in new frontiers like Cryptocurrencies and Fintech. In his spare time, he loves to read books on finance, fiction as well as keep up with happenings in the world of international diplomacy. You can contact him via onome.ohwovoriole@nairametrics.com

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