The Lagos State Government has announced an increase in fares for all regulated bus services in the state.
The state Governor, Mr. Babajide Sanwo-Olu, gave the approval of a flat rate increase by N100 in fares for all Bus Rapid Transit (BRT) and Standard routes.
According to the report, with the increase, a bus ride from Ikorodu – TBS 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.
The Governor in consenting to the fare increase also approved a proposal for a bailout for the bus operating companies (route franchise operators/concessionaires), in order to cushion the effect of the harsh operating environment, safeguard private partnership investment, and forestall the demise of formalised bus operations in the state.