Subsidy removal: Sanwo-Olu slashes transport fares by 50%

Lagos State Governor, Babajide Sanwo-Olu has slashed transportation fares in state-owned transport system by 50 percent to cushion the effect of hardship due to removal of fuel subsidy.

The governor also hinted of a plan by commercial transporters to slash prices by 25 percent across the metropolis.

He spoke with newsmen after the security council meeting held at the State House, Ikeja on Monday.

According to Sanwo-Olu, all transportation vehicles belong to the government will from Wednesday, 2 August slashed their fares by 50 percent.

The governor also disclosed that government would begin the distribution of foodstuff for the vulnerable to cushion the effect of subsidy removal.

Sanwo-Olu stated that the 50 per cent slash in transportation cost by the government would further help to lessen people’s burden.

Mr Sanwo-Olu also announced 25 per cent reduction in Yellow buses fare, which he said will be announced officially by their body.

“For the informal buses, they are also going to make pronouncements today and we have also agreed with them that they will be doing 25 per cent deduction on their buses, all of the Yellow buses we have on the street,” he said.

“They will also make a formal announcement maybe later today, that will probably take effect maybe tomorrow or latest on Wednesday. They are also having their meeting as we speak right now.”

The governor also pledged more buses for civil servants to aide their movement and reduced their cost of transportation.