The Lagos State Governor, Babajide Sanwo-Olu, has slashed regulated bus and train fares in the state by 25%.
Disclosing this in a tweet on Monday evening, Lagos Metropolitan Area Transport Unit (LAMATA) said that the state government decided to partially return the subsidy on transportation after calls from state citizens to reinstate the subsidy.
LAMATA disclosed that the new development will take effect from Tuesday, November 7, 2023, detailing that the price will be effective until another review is announced.
“Following appeals to the governor, he has extended the passenger fare reduction by 25% across the regulated bus and rail transport services until another review is announced.
“Within the three months period of the rebate, the pump price of diesel jumped from N867 in August to N1,300 in November 2023 representing about 50 per cent jump.”
“Responding to calls for the reinstatement of the 50% rebate on fare for regulated bus and rail transport, Governor Babajide Sanwo-Olu has directed the implementation of 25% discount beginning from Tuesday, November 7, 2023,” the statement by LAMATA read.
Recall that INFORMATION NIGERIA had earlier reported that the State Governor on Saturday, removed the 50 per cent subsidy it initially placed on the government-controlled transportation system.