JUST IN: Lagos Govt. stops 25% discount on state-owned transport services
The Lagos State Government has discontinued the 25 percent discount on state-owned transport services, ending 10 months programme designed to mitigate impact of the fuel subsidy removal by President Bola Tinubu.
It said that fares on the state-owned public transport buses, ferries, and train will return to 100 percent fares on Monday, 3rd June 2024.
The plan was made public on Saturday in a statement released by the government through Lagos Metropolitan Area Transport Authority (LAMATA) official social media handle.
According to the statement, “The 25% fare rebate on regulated public transport buses, ferries, and train services ends on Sunday, June 2nd, 2024.
“From Monday, 3rd June 2024, transport fare on all regulated transport services in the state will return to its original fare of 100%.
“Governor Babajide Sanwo-Olu, last February 23rd, announced a 25% rebate, extending the six-month 50% rebate that began on July 31, 2023, to mitigate the impact of the fuel subsidy removal.
“The rebate in regulated public transport system fares has resulted in the state government expending effort and resources in transport subsidies to ease the pains associated with the removal of fuel subsidy effected last year May”.
Sanwo-Olu, at the kick-off, said the move was part of the palliatives being rolled out by the state government to cushion the effects of the petrol subsidy removal and the attendant hike in the prices of commodities.
The prices of petrol had soared after President Bola Tinubu announced the removal of petrol subsidy in his May 29, 2023, inauguration address, a development that also affected prices of goods and services across the country.
