Lagos State Governor, Babajide Sanwo-Olu, announced a significant reduction in transportation fares within the state-owned transport system, aimed at easing the impact of fuel subsidy removal and alleviating hardship for residents.
Speaking to journalists after a Security Council meeting at the State House in Ikeja on Monday, Governor Sanwo-Olu revealed that all government-owned transportation vehicles would implement a 50% fare reduction starting from Wednesday, August 2.
Additionally, the governor disclosed that commercial transporters across the metropolis are also planning to reduce their prices by 25%.
In light of the subsidy removal’s economic implications, the government will initiate the distribution of food supplies to assist vulnerable individuals, further cushioning the effect of the policy change.
Governor Sanwo-Olu stressed that the 50% reduction in transportation costs provided by the government would help to ease the financial burden on the people.
Furthermore, as part of the administration’s commitment to enhancing civil servants’ mobility and reducing their transportation expenses, more buses will be made available to aid their daily movement.
This move comes as the Lagos State government takes proactive measures to support its residents during the transitional period following the fuel subsidy removal. The fare reduction in the state-owned transport system is expected to provide relief to commuters and contribute to a more sustainable and inclusive transport infrastructure.