Gboyega Akinsanmi
The Lagos State government on Monday approved fare increase of between 20 and 50 per cent for all mass transit buses operating under its franchise, thus attributing its action to the country’s deepening economic recession.
The state government added that it became imperative to review the fare upwards, lamenting that the current economic recession “has seen average cost of operations increase to up to about 110 per cent”.
The Managing Director of Lagos Metropolitan Area Transport Authority (LAMATA), Mr. Abiodun Dabiri, disclosed this at a news conference he addressed with the Managing Director of LAGBUS Asset Management Limited, Mr. Idowu Oguntona, appealing to commuters to bear with the state government.
At the conference also attended by the Managing Director of Primero Transport Service Limited, Mr. Fola Tinubu, Dabiri said the increase was necessitated by the economic downturn in the country, which had affected the transportation sector drastically.
Details later…
