From July 13th, the fare of the Bus Rapid Transit (BRT) from Ikorodu to TBS will now be N600.
This was contained in a statement on Thursday by the Assistant Director, Corporate Communication of the Lagos Metropolitan Area Transport Authority (LAMATA), Kolawole Ojelabi.
According to Ojelabi, the rising cost of diesel plus the number of busses out of operation due to damages informed the increase.
The statement reads in part, “To sustain the operations of regulated bus services in Lagos State, the State Governor, Mr. Babajide Sanwo-Olu, has approved a flat rate increase by N100 in bus fares for all Bus Rapid Transit (BRT) and standard routes.
“The increase, which will come into effect on Wednesday, 13 July 2022, is aimed at ensuring sustainability of the BRT and standard route schemes.
“Operations of the transport scheme, of late, had been hampered due to rising cost of inputs required for sustainable service offering and the attendant high number of buses out of operation as a result of lack of spare parts.
“For instance, the exponential increase in the pump price of diesel from N187 to N830/litre between August 2020 and June 2022, had greatly affected optimal performance of the bus operating companies leading to the withdrawal of buses from operation and longer waiting time at bus stations.
“The governor in consenting to the fare increase also approved a proposal for a bail out for the bus operating companies in other to cushion the effect of the harsh operating environment and safeguard private partnership investment and forestall the demise of formalized bus operations in the state.”
This implies that a bus ride from Ikorodu to TBS will now cost N600 from N500.