From Monday, January 29th, 2024, the transportation fare for regulated public transport in Lagos State will revert to its original 100% rate. The 25% rebate, which was applicable to regulated public transport buses, ferries, and trains, will conclude on Sunday, January 28th, 2024.
Governor Sanwo-Olu had initially announced a 50% rebate on July 31st as a palliative measure in response to the impact of fuel subsidy removal. This 50% reduction, implemented for a period of six months, was later adjusted to a 25% rebate in November after receiving requests for its reinstatement.
The Lagos State Government, acting through the Lagos Metropolitan Area Transport Authority (LAMATA), issued a statement on Friday, January 26th, titled “25% Fare Rebate on Transport Ends January 28,” officially declaring the conclusion of the 25% rebate.
The statement emphasized that starting from Monday, January 29th, 2024, the transportation fare for regulated services would return to the full 100%.
Governor Babajide Sanwo-Olu’s decision to implement the 50% rebate in July 2023 was prompted by the need for a palliative measure following the removal of fuel subsidies. After running for six months, this initial rebate was later reduced to 25% in November, addressing appeals for its reinstatement.
It’s worth recalling that on November 7th, Governor Sanwo-Olu approved a 25% reduction in passenger fares for regulated bus and rail transport services, responding to calls for the reinstatement of the 50% rebate that had concluded on November 5th, 2023.
In a statement released by LAMATA, the State Government cited a significant increase in diesel prices from N867 in August to N1,300 in November 2023 as the reason for withdrawing the 50% rebate.