LBSL Laments 72% Drop In Revenue, As Implementation Of New Transport Fares Begin In August

The Lagos State Governor, Mr. Babajide Olusola Sanwo-Olu has approved the use of the Bus Rapid Transit (BRT) dedicated corridor by Lagos Bus Services Limited (LBSL) buses, just as he endorsed that operators of the buses can commute passengers to its full capacity without standing, subject to strict adherence to established safety protocols.

LBSL explained that conveying not more than 20 passengers per bus had resulted in only 14 percent utilisation of the busload, leading to 72 percent drop in revenue of the company while running costs remained fairly the same.

A statement issued by the office of the Managing Director/Chief Executive Officer of the Agency, Mr. Idowu Oguntona, also revealed that as part of ongoing reforms by the Lagos Bus Services Limited (LBSL), an average of 46 percent increase in the transportation fares of LBSL will take effect from 1st of August, 2020.

Oguntona averred that the approval to use the bus corridor by the Governor was to further give the commuting public a better experience on Lagos roads, while the increase in the number of passengers conveyed and fares become necessary in order to enable the company to sustain its operations following the negative impacts of the COVID-19 pandemic on public bus transportation.

According to the MD/CEO, “The Governor has also approved LBSL’s request to increase the number of passengers per bus from 20 to 42 in strict observance of updated COVID-19 safety protocol as directed by the Nigerian Centre for Disease Control (NCDC), in the operation of public transport, whilst ensuring all other measures are in place”.

He described the approval from the Governor as a long-expected desire by the agency, saying that news of the approval came at such a crucial time when the commuters needed it most, thus making a bus journey predictable on corridors with bus dedicated lanes.

The LBSL Chief Executive Officer envisaged that the decision of the Governor will further reposition the company for enhanced performance, assuring all the stakeholders of the company of an improved operational experience going forward.

While noting that the fare increase would improve LBSL’s operational efficiency and place the company on the path of sustainability in the long term, Oguntona maintained that the permission granted by the Governor now gives access to LBSL buses to use the dedicated BRT corridor from Berger through Ikorodu Road to Leventis, TBS and Obalende; and also from Oshodi through Ikorodu Road to Leventis, Inner-Marina, TBS and Obalende among several other routes.

He commended Governor Babajide Sanwo-Olu for listening to the yearnings of Lagosians when it mattered most, while commending the efforts of the Ministry of Transportation as well as LAMATA for their unflinching support.

Oguntona reassured Lagosians that the company will continue to strive harder to bring public transportation in Lagos State to a reputable standard, and encouraged Lagosians to imbibe the culture of using public bus transit as a way of commuting safely within Lagos.

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