Lagos Govt Revert Bus fare back to 100%

The Lagos Metropolitan Area Transport Authority (LAMATA) has declared  fares of state-owned buses will revert back to a 100 percent rate effective April 1, 2023.

In a statement released by the transport authority (LAMATA) on Tuesday,29th April,2023 ,the state government said fares of state-owned buses will return to a 100 percent rate effective April 1, 2023.

Recall that,early last month,before the state gubernatorial election, Lagos State Governor, Babajide Sanwo-Olu, announced a 50 per cent reduction in the prices of all state-owned transport services.

According to him, the measure was necessary to reduce the hardship faced by residents over petrol and cash scarcity.

However, LAMATA on Tuesday said fares of state-owned buses will return to a 100 percent rate on April 1.

According to the statement released,this was in sync with the supreme Court ruling on the return of old notes back into the economy as legal tender till 31st of December,2023.

“With effect from Saturday, April 1, bus fare on all regulated buses — BRT, standard and FLM — shall revert to10000 per cent rate,” the statement read

“Lagos State Governor, Babajide Olusola Sanwo-Olu, had on Wednesday, February 8, 2023, approved a 50% slash in bus fares following the cash crunch brought about by the recent currency swap.

“Following the Supreme Court and Federal Government’s pronouncements on the use of old notes alongside the new notes and return of stability to the system, the 50% rebate is hereby discontinued.”