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The Lagos Metropolitan Area Transport Authority (LAMATA) has announced an 18 per cent fare increase across its entire Bus Reform Initiative (BRI) scheme.
This was as the Lagos State Waterways Authority (LASWA) said its ‘Omi Eko’ water transport project would gulp €410 million. The LAMATA increase is expected to take effect from Monday, February 17, 2025, across its entire route.
In a notice on its X handle, yesterday, LAMATA stated that the increase was due to the cost of operations and the need to ensure that buses keep running and guarantee the public movement around Lagos.
LAMATA called for the “understanding and cooperation” of passengers amid the increment. The Lagos government had in November 2023 cancelled the 50 per cent transport fare discount on all BRT and reverted to the old prices.
Meanwhile, Lagosians have started complaining about the increase, asking why the agency could not switch to Compressed Natural Gas (CNG) as an alternative to fuel.
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The General Manager of LASWA, Mr Oluwadamilola Emmanuel, in a statement made available to the News Agency of Nigeria (NAN), yesterday, in Lagos, noted that the project would be financed largely via the Global Gateway Initiative with the support of the French Development Agency (AFD), the European Union (EU) and the European Investment Bank (EIB).
He said, “The AFD, EU and EIB would invest €360 million in the project with a counterpart fund of €40 million by the Lagos State Government, while the balance of €10 million would be borne by the private sector.
“The Omi Eko project is a visionary initiative aimed at transforming Lagos’ inland waterways into a world-class transportation network and a catalyst for urban and economic development.”
Emmanuel noted that the project would ameliorate the heavy traffic on Lagos roads by providing a reliable alternative through water transportation and integrating ferry services with existing road and rail networks.
“The project aims to create a seamless multimodal transportation system,” he said.
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