New Telegraph

February 25, 2024

Cash Limit: Sanwo-Olu approves 50% reduction on public transport

Following nationwide tension caused by persistent fuel shortage and the debacle of currency exchange by the Central Bank of Nigeria (CBN), Lagos State Government has announced palliative measures to cushion effects of the crises on residents. Governor Babajide Sanwo- Olu, yesterday, directed 50 per cent fare reduction in all State-owned transportation services, effective today. Passengers using BRT buses, LAGRIDEtaxi-scheme, First Mile and Last Mile buses, and Lagos Ferry Services (LAGFERRY) will enjoy the palliativeforthenextoneweek, using their Cowry Cards.

The governor also gave expresspermissiontoallfuelstations operating within Lagos commence 24-hour operations to allow residents buy fuel without having to stay in queues for hours. The controversy over the CBN currency exchange deadline, Sanwo-Olusaid, has had dislocation effect on Lagosians, limiting their access to cash for daily transactions and making their means of sustenance difficult. The governor announced establishment of food banks in various parts of the State for distribution of food items to vulnerable families hit by the lingering crisis.

He said: “I have found it necessarytoaddressthegood people of Lagos, following some event in our dear country. “The currency exchange and the fuel situation have, no doubt, raised the tension in the land. “I commend our dear citizens for your patience and understanding in the face of hardship that you have experienced in recent days. “Your resilience has been remarkable. You stand firmin demonstration of your confidence in our ability to protect your interest in these difficult days.” “Thecurrentsituationhas had telling effects on States andwehavetakensomesteps to cushion the effects on your wellbeing. “To support you in weathering these stormy days, I hereby announce a 50 per cent cut in fares on all our BRT buses, LAGRIDE taxischeme, First Mile and Last Mile buses, and Lagos Ferry Services (LAGFERRY).”

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