“Within the three months period of the rebate, the pump price of diesel jumped from N867 in August to N1,300 in November 2023 representing about 50 per cent jump,” it added.
Governor Babajide Sanwo-Olu
Sanwo-Olu slashes transport fares by 25% following calls for reinstatement of 50% rebate
The Lagos State Governor, Babajide Sanwo-Olu, has slashed transport fares on state-regulated bus and rail transport by 25 percent.
Recall that the state government had ended the 50 percent slash in transport fare recently introduced by Sanwo-Olu to cushion the effect of petrol subsidy removal.
The governor had on July 31 slashed transport fare on public transport operated by the Lagos State Metropolitan Area Transport Authority (LAMATA) and Lagos Ferry Services (LAGFERRY) by 50 per cent beginning from August 2.
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But LAMATA, in a statement signed by its Head of Corporate Communication, Kolawole Ojelabi, said Sanwo-Olu has directed the implementation of 25 per cent discount beginning from Tuesday, in response to calls for the reinstatement of the 50 percent rebate.
“Responding to calls for the reinstatement of the 50 percent rebate on fare for regulated bus and rail transport, Governor Babajide Sanwo-Olu has directed the implementation of 25 per cent discount beginning Tuesday, 7th November 2023,” the statement read.
“Following appeals to the Governor, he has extended the passenger fare reduction by 25 percent across the regulated bus and rail transport services until another review is announced.
“Within the three months period of the rebate, the pump price of diesel jumped from N867 in August to N1,300 in November 2023 representing about 50 per cent jump,” it added.
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