LAMATA Increases BRT Fares by 18% Due to Rising Operational Costs

Date:

The Lagos Metropolitan Area Transport Authority (LAMATA) has announced an 18% fare increase for the Bus Rapid Transit (BRT) system, citing higher operational costs. The new pricing will take effect next week, according to a notice issued by LAMATA on Thursday.

Thank you for reading this post, don't forget to subscribe!
“Please be informed that there will be an 18% increase in the bus fare on all Bus Reform Initiative (BRI) schemes,” the statement read. “The fare increase is because of the rise in the cost of operations and the need to ensure that buses keep running and guarantee your movement around Lagos.”

Public Transport Fare Adjustments in Lagos

This development follows the Lagos State Government’s decision in November 2023 to cancel the 50% transport fare discount on BRT services, returning fares to pre-August 2023 rates. The discount had initially been introduced to cushion the impact of fuel subsidy removal by President Bola Tinubu’s administration.

Before that, in July 2023, Governor Babajide Sanwo-Olu announced a 25% fare reduction on all routes for both state-owned and commercial buses. Additionally, the government expanded its fleet of staff buses for Lagos State Public Service workers.

Appeal for Public Cooperation

LAMATA has urged commuters to show understanding and cooperation as the fare increase takes effect, emphasizing that the adjustment is necessary to sustain efficient public transport services in Lagos.

By Naija247news
By Naija247newshttps://www.naija247news.com/
Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

Share post:

Subscribe

spot_imgspot_img

Popular

More like this
Related

Stanbic IBTC Bank Opens N50bn Series 1 Commercial Paper Issuance

Stanbic IBTC Bank Limited has announced the opening of...

Guinness Nigeria Reaffirms Public Listing as Tolaram’s N81.60 Per Share Takeover Offer Proceeds

Guinness Nigeria Confirms Public Listing Amid Tolaram’s Takeover Offer Guinness...

PZ Cussons Nigeria Minority Shareholders Reject N51.79 Billion Debt-to-Equity Swap

Minority shareholders of PZ Cussons Nigeria Plc (PZCN) have...

FirstBank Refutes Fraud Accusations, Links Case to Ex-Employee Misconduct

FirstBank Dismisses Fraud Allegations, Points to Former Employee’s Misconduct FirstBank...