The Lagos State Government on Tuesday disclosed that Governor Babajide Sanwo-Olu’s administration had spent no less than N14.9 billion to subsidise transportation fares for residents over a period of six years.
The State Commissioner for Transportation, Mr Oluwaseun Osiyemi, made this known during the ministerial press briefing to mark the second anniversary of Governor Sanwo-Olu’s second term in office.
While presenting the ministry’s scorecard at the press conference—also attended by his counterpart from the Ministry of Information and Strategy, Mr Gbenga Omotoso, among others—Osiyemi stated that the Lagos Bus Service Limited (LBSL) was established to provide a modern, safe, secure, convenient, and reliable bus transportation system. The aim, he said, was to integrate with other public transport modes within the state and deliver a socially inclusive service that is both affordable and accessible.
According to the commissioner, LBSL had moved a total of 60,882,000 passengers between May 2019 and February 2025. He added that the agency currently transports over 42,266 passengers daily, operating an average of 1,000 bus trips per day.
Osiyemi further stated that the average fare charged by LBSL since inception had been N261.67 less than the average fares across Lagos, estimating the total value of the fare subsidy at N14.9 billion.
“Currently, LBSL moves over 42,266 passengers daily with an average of 1,000 bus trips per day. Since inception, LBSL average fare has been N261.67 cheaper than the average fares in Lagos, it has subsidized fare for the Lagosians transported to an estimated sum of N14.9 billion,” he said.
