The Lagos Metropolitan Area Transport Authority (LAMATA), on Tuesday, announced the removal of the 50 per cent cut on its Bus Rapid Transit (BRT), which was introduced by the governor, Mr Babajide Sanwo – Olu, to cushion the effect of the naira scarcity in the state.
In a statement by LAMATA, the agency informed the public that starting from April 1, the fare shall revert back to the old rate.
Sanwo – Olu had on February 8, 2023, approved a 50 per cent slash in bus fares to reduce the adverse effects on the populace caused by the policy of the Central Bank of Nigeria (CBN), which created naira scarcity.
“With effect from Saturday, 1st April, bud fare on all regulated buses – BRT, standard and FLM -shall revert to 100 per cent rate”, the statement said.
“Lagos state Governor, mr. Babajide olusola Sanwo-Olu, had on Wednesday, 8th February 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 note and return of stability to the system, the 50% rebate is hereby discounted.
“Consequently, bus fares return to pre-50% slash rate effective Saturday 1st April 2023”, the statement added.
“Thank you for your understanding”