Lagos State Governor, Bababjide Sanwo-Olu, has joined some his counterparts in other states, to help residents in cushioning the effect of subsidy, ravaging the economy since it’s removal.
He announced the reduction in transport fare on all Bus Rapid Transport, BRT routes by 50 per cent, beginning from Wednesday, while commercial yellow buses, known as ‘Danfo’ will follow suit with a reduction of 25 per cent.
Since the removal of subsidy on May 29, Nigerians have experienced hardship, following the rise in the price of goods in the market, which has prompted the imminent strike action proposed by the Nigeria Labour Congress.
The reason President Bola Ahmed Tinubu gave for the removal of subsidy, is that, subsidy was riddled with corruption, manipulation and mismanagement.
The N3.92 trillion allocated for petrol subsidy between January 2020 and June 2022, is more than the combined federal budgets for healthcare, education, and defence throughout the 30-month period.