CEO, Ruiti Agbero Limited, Revd. Olusesan Ogunmilade
With the operational take off of Ruiti ‘Agbero’ Limited, the fare payment service provider that uses the ‘Agbero’ App, transport riders have been urged to take advantage of the city wide payment service aimed to reduce cost for clients.
Chief Executive Officer (CEO) of Ruiti Agbero Limited, Revd. Olusesan Ogunmilade said the new fare payment system that is commensurate with the rider’s ability to pay, would be operational from 1st July.
According to Ogunmilade, the ‘Agbero’ App, is available for download from the Google Playstore.
To this end, he said the starting date is July 1, 2020 and the registration of public transport operators has begun on www.ruitiagbero.com.
According to him, riders, that is, prospective users may begin to download the ‘Agbero’ App immediately and create their accounts in readiness for the commencement of operations. “And there is a very attractive reward for the early buyers of the tickets,” he added.
The ‘Agbero’ is implemented in every Nigerian metropolis having 1 (one) million or more commuters moving per hour in all directions daily.
Explaining the motive behind the initiative, CEO of Ruiti Agbero Limited said in a low income economy such as Nigeria, the ‘Agbero’ App is a positive response to the yearnings of the riders to have a fare system that is commensurate with their ability to pay.
He stated that the philosophy behind it is that a reduced fare leads to increase in ridership and profitability. Conversely, increased fares will lead to low revenue intake for the transport operators as the ridership population decreases.
On prospects for increased capacity, Ogunmilade said, “The ‘Agbero’ App will pave the way for organised Private Sector (OPS) – led public transport operations in Nigeria because the financial intermediaries are thereby assured of guaranteed return on investment (ROI).
“To travel for a whole day, the rider will buy a ticket with the mobile phone. And ride on the boats/ferries/buses operators partnering with the ‘Agbero’ App.”
In addition, he said, The ‘Agbero,’ fare payment service – App enables transport operators to use a platform that gives them fare collection on a platter. “They simply log on and they are in service,” added Ogunmilade.
The CEO of Ruiti Agbero Limited said, “It is designed to complement existing ticketing arrangements.
“The Agbero pays them as the riders use their services and the commuter pays once.
“The plan is simple; riders pay with their phone and receive a ticket, which enables them to ride, on a one – day – travel, round the city.”
Ogunmilade highlighted the core deliverables from this service as mobile ticketing solution and limitless ticketing capacity while the specific deliverables include riders bringing their own ticket, the riders being in possession of his or her ticket, reduction in the cost of operations for transport operators and lower fares for riders/commuters/passengers.
Other specific deliverables include all round cashless transaction and the achievement of COVID-19 protocols some of which are observing social distancing during ticket purchasing process and non-touching of common surfaces like cash, paper/plastic tickets, among others.
In a comparative statistics between London with 9.5 million population and Lagos with 25 million people, the operators of the initiative said while 6,000 buses was operating the service in London, 1,000 buses would execute the project in Lagos. Although, 500 trains were implementing the project in London, trains have not yet been incorporated into the planned operations of Ruiti ‘Agbero’ Limited in Lagos. Furthermore, while the riders population in London is up to six million clients, 12 million riders are expected to key into the project in Lagos.
Based on this, Ogunmilade said, “For rolling stocks financing, the ‘Agbero’ App is a transparent cost recovery mechanism.”
He therefore reasoned that institutional fund providers have a lot to gain from supporting the ‘Agbero’ mobile ticketing solution for public transport in Nigeria.