Lagos governor, Babajide Sanwo-Olu has blamed the increment in Bus Rapid Transit (BRT) fares across the state on the high cost of diesel in the country.
Sanwo-Olu, according to Kolawole Ojelabi, the Assistant Director of Corporate Communication, Lagos Metropolitan Area Transport Authority (LAMATA), approved the increment by N100.
In a statement cited by BizWatch Nigeria, the BRT fares increment would take effect from Wednesday, July 13, 2022.
Ojelabi, in the statement, quoted the governor as saying the high cost of diesel has affected the performance of bus-operating companies in the state, including BRT.
“The increase, which will come into effect on July 13, is aimed at ensuring the sustainability of the BRT and standard route schemes. These measures are indispensable in the current global economic and environmental reality to ensure the sustainability of the Bus Reform Initiative operation.
“With the increase, a bus ride from Ikorodu – Tafawa Balewa Square will now cost N600 from N500 while Berger to Ajah is now N700, up from N600. Oshodi to Abule Egba will cost N450 from N350 and Abule-Egba-CMS-Obalende will attract a fare of N600,” he explained.
Why Sanwo-Olu is blaming BRT fares increment on diesel cost…
For transportation companies who have been groaning under the high cost of operation in the country, the steady rise of the price of diesel, particularly in recent times, is definitely one too many.
However, the rising prices of the commodity have been further exacerbated -no thanks to the Russia-Ukraine war which started in late February.
When this year started, in January precisely, diesel was selling for between N400 and N420 per litre. But today, it is dispensed at between N720 and N800 per litre. BizWatch Nigeria, however, understands that this development is a dilemma for transporters who had hitherto been operating under a most inclement business climate.