Lagos State Ends 25% Palliative Discount on Transport Fares as Subsidy Removal Measures Conclude on Sunday, January 28, 2024.

In a recent development, the Lagos State Government, operating through the Lagos Metropolitan Area Transport Authority (LAMATA), has announced the conclusion of the 25% discount on transport fares across the entire Lagos State Public Transport System. This change will take effect starting from Sunday, January 28, 2024.

ALSO READ: FG to Launch Student Loan Fund Scheme with an Application – Sawyerr

The announcement came via a public notice issued by LAMATA on Friday, January 26, 2024, shared on its official social media accounts. Lagosians are urged to take note of this transition and prepare for the return to standard transport fare rates that were in place prior to the adjustments made in December.

Key Points from LAMATA’s Statement:

“LAMATA officially concludes the 25% rebate on regulated public transport buses, ferries, and trains on Sunday, 28th January 2024. Beginning Monday, 29th January 2024, transport fare on regulated services will revert to the original 100%.” Governor Babajide Sanwo-Olu had earlier introduced a 50% fare reduction as a palliative measure in response to the fuel Subsidy Removal, and this initiative had been in effect for six months.

Noteworthy Information:

• On July 31, Governor Babajide Sanwo-Olu announced a 50% reduction in transport fares for state-owned buses and a 25% reduction for commercial yellow buses on all routes. This was implemented to mitigate the impact of the petrol subsidy removal.
• The bus fare reduction was initially scheduled to commence from Wednesday, August 2, 2023.
• Additionally, Governor Sanwo-Olu revealed plans to expand the Fleet of Staff Buses for workers in the Lagos State Public Service, aiming to alleviate the effects of the subsidy removal. These buses are prepared for deployment through the office of the Head of Service of the state.

As the subsidy removal measures conclude, Lagos commuters are advised to be aware of these changes in the transport fare structure.

The post Subsidy Removal: Lagos State to End 25% Palliative Discount on Transport Fares on Sunday appeared first on My Finance NG.