by Usman Alabi
Report reaching us has it that transport fares would be increased for BRT and LAGBUS and other franchise buses, which would take effect from March 1, 2017.
The governor of the state has approved 20 to 50 percent fare increase for the buses.
This was disclosed at a news conference on Monday at the Bagauda Kaltho Press Centre, Alausa, Ikeja, the Managing Director and Chief Executive Officer, Lagos Metropolitan Area Transport Authority, Abiodun Dabiri, said the increase was a result of the economic downturn in the country which had affected the transport sector drastically.
“As a result of the economic downturn, public transport has been severely impacted as all related costs have escalated beyond any financial projection. he said.
“Although the government is focused on a strategic reform of the public transport operations to create a world-class public transport that is modern, cost-effective and safe, the government has to consider the request of the operators for an upward review of bus fares due to the current prices for some of these schemes, which have stayed constant for more than six years.
“The current financial crunch has seen average cost of operations increase to about 110 per cent. With the cost of fueling going up by 71 per cent, oil prices up by 64 per cent, tyre by 90 per cent, continued operations are threatened.
“In order to avert a collapse of the scheme, which currently serves over 500,000 commuters daily, the Lagos State Government has to consider the request of the operators for an upward review of bus fares. Consequently, Governor Akinwunmi Ambode has approved a fare increase for the operators effective from Wednesday, March 1, 2017. The average increase approved ranges from 20 per cent to 50 per cent on different routes.”
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