Bababjide Sanwo-Olu the governor of Lagos State made an announcement yesterday ordering a 50% cut in transit tariffs on all Bus Rapid Transit, BRT, lines which will commence today the 1st of August, 2023.
Also in the briefing, the governor stated that commercial yellow buses known as 'Danfo' will follow with a 25% reduction of fares on all routes.
Sanwo-Olu made the remarks while speaking to the media at the State House in Ikeja following a security briefing with security services such as the army, police, and navy.
He also stated that the number of Lagos State staff buses will be raised and that new vehicles will be distributed soon.
The governor also stated that the state will begin distributing food packets including rice, beans, and cassava flour, known as garri, to disadvantaged individuals in the state.
According to him, the funds would be distributed through Community Development Associations, CDAs, churches, mosques, and municipal governments.
These efforts, according to Sanwo-Olu, are intended to mitigate the consequences of the Federal Government's elimination of gasoline subsidies as well as the country's terrible economic position.
The 50% decrease would be reflected in the transit fee paid by buses run by the Lagos Metropolitan Area Transport Authority, LAMATA, and a 25% reduction by yellow buses.
Read more: https://www.investingport.com/fuel-subsidy-lasg-announces-slash-in-brt-fares-by-50/