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Nairametrics
Home Business News Business

Lagos says 50% discount on transport fares will end by Sunday

Chike Olisah by Chike Olisah
November 4, 2023
in Business, Business News
Lagos says 50% discount on transport fares will end by Sunday
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The Lagos State Government through the Lagos Metropolitan Area Transport Authority (LAMATA) has announced the stoppage of the 50% transport fare discount on all Lagos State Public Transport System which was implemented in response to Governor Babajide Sanwo-Olu’s directive on August 2, 2023.

This disclosure is contained in a public notice issued by LAMATA on Saturday, November 4, 2023, and can be seen on its official X (formerly Twitter) account.

LAMATA in its notice announced that the temporary 50% fare reduction will end this Sunday, November 6, with transportation fares reverting to their pre-August 2 rates on Monday, November 6.

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The agency also advised Lagosians to take note of the change and to make the necessary preparations for the resumption of regular transport fare rates that were in place before the adjustment made in August.

What LAMATA is saying

The statement from LAMATA reads,

  • “The 50% rebate in transport fare in the regulated transport system in Lagos ends on Sunday, a statement by the Lagos Metropolitan Area Transport Authority has said.
  • “The 50% fare rebate was announced by Governor Babajide Sanwo-Olu on August 2, 2023.
  • “The public is hereby informed that from Monday, November 6, 2023, transport fare will return to the pre-2nd August 2023 rate.”

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.

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Tags: Governor Babajide Sanwo-oluLAMATA
Chike Olisah

Chike Olisah

Chike was a banker with over 11 years experience in retail and commercial banking, risk management, treasury portfolio management and relationship management. He also acquired some experience in financial management and do have some special interest in investment analysis and personal finance. He had stints with financial institutions like the former Intercontinental Bank and Fidelity Bank.

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Comments 2

  1. Odukoya says:
    November 4, 2023 at 10:41 pm

    Why ? I think they want to reverse the fuel subsidy

    Reply
    • Oluchi says:
      November 6, 2023 at 10:51 am

      There should be a reason for this. it could be subsidy, it could be that they ran out of funds. But either way, it’s been removed and that would effect the common man on the street.

      Reply

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