Cash scarcity: Sanwo-Olu announces 50% fare reduction on ALL state-owned transport services

Babajide Sanwo-Olu, the Lagos state governor, has announced a 50 percent reduction in the prices of all state-owned transport services.

The transport services include bus rapid transit (BRT), Lagos ride taxis, ferries, and other transportation services in the state.

The gesture comes amid the lingering petrol and cash scarcity, which has subjected residents of the state to biting hardship.

Last week, some civil society organisations (CSOs), stormed the streets of Lagos to protest over the unavailability of cash at ATM points and financial institutions.

In a related development, the Lagos chapter of the All Progressives Congress (APC), on Tuesday, announced the suspension of its campaign activities over the current petrol shortage and ongoing nationwide cash crunch.

Reacting to these events on Wednesday, Sanwo-Olu said the state will reduce transport fares and make provision for food banks in vulnerable places in the state to “cushion the effects of  what our citizens are facing.”

“I have directed that from tomorrow (Thursday), on all of our Lagos bus system, all of our BRT buses, on all of our LAGRIDE taxis, all our ferries, boats, and LASTMA buses and small buses we have in the state, that they should be carrying passengers at 50 percent of the current fare,” he said.

“This will continue to happen using their Cowry cards and we want to further make Cowry cards available for all willing citizens. We have over 3 million cards out there that are being used, we believe we will make them a lot more available.

“So, for the next one week, passengers will enjoy a 50 percent discount from tomorrow morning.

“You will also see us distributing food items, foodstuff that we are making arrangements for. And we have tens of thousands that are already ready and we will be identifying various locations in which we will be distributing these food packs so that we can cushion the effect on all our citizens.”