The managing director of the Lagos Bus Rapid Transit(BRT), Mr Fola Tinubu has announced a hike in price of the transport service effective from Friday, 29th May.
Making the announcement, he shared that an approval has been gotten from relevant agencies before the hike.
“We are going to increase our pricing effective from tomorrow Friday, May 29. We agreed on this after our talk with the Lagos State Government.
“Everywhere commuters are paying N200 for a trip, it is going to be N300 and everywhere commuters are paying N300 per trip, it is going to be N500.
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“We are increasing our fares. We have secured the permission of the regulator (Lagos State Metropolitan Area Transport Authority (LAMATA).
“We are doing this not to punish anybody or to victimise anybody but because the circumstances we found ourselves forced us to do it.
“We need to make sure the company is on a sound financial footing, and if we don’t do this, the buses will not be available in the long run and there will be no way for us to fix buses and bring new buses.
“The business must be on a solid financial footing. Without this, the company cannot survive, and if the company does not survive, it will even cost commuters more in the long run.
“We understand that this is going to put some hardship on people but if we don’t do this and the company goes under, it will even cost the people more,” Tinubu said.