- The Lagos government has released the Red Line Rail Fares as commercial operations commence
- The Lagos Metropolitan Area Transport Authority (LAMATA) began commercial operations for the Red Line rail on Tuesday, October 15, 2024
- The new fares have elicited various reactions from passengers who said the fares are too expensive
Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade.
Nigerians have expressed mixed reactions following the release of the Red Line rail fares.
While many Lagosians expressed excitement over the commencement of the rail, which is the projected ferry, about 500,000 passengers daily, others disclosed that the fares are exorbitant.
Credit: PIUS UTOMI EKPEI / Contributor/LAMATA
Source: Getty Images
The Red Line to operate eight locations
After six weeks of test runs, the Lagos Metropolitan Area Transport Authority (LAMATA) began commercial operations for the Red Line rail on Tuesday, October 15, 2024.
According to reports, the Red Line has eight stations at Oyingbo, Yaba, Mushin, Oshodi, Ikeja, Iju, and Agbado.
The Red Line is the second metro project launched in Lagos in less than two years and is expected to ease traffic gridlock along the routes.
LAMATA said that the first train leaves Agbado by 6:00 am and arrives at its final destination at Oyingbo at about 7:07 am. The trip costs about N1,500.
Experts compare fares with road transport
Experts have said the Red Line came when road transportation skyrocketed due to high petrol prices.
Bus fares from Agbado to Oyingbo are estimated at N2,300 due to the high petrol cost.
Legit.ng earlier reported that the Nigerian National Petroleum Company Limited (NNPC) has agreed to sell petrol to Independent Petroleum Marketers Association of Nigeria (IPMAN) members at N995 per litre.
The development comes amid the Department of State Services intervention in the face-off between the marketers and the state oil firm.
DSS intervenes between IPMAN and NNPC
Hammed Fashola, IPMAN’s national vice president, disclosed that the DSS intervention solved several marketers’ problems.
He confirmed that due to the intervention, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) agreed to pay the association its outstanding N10 billion as it resolved issues concerning the direct purchase of petrol from the Dangote refinery.
Fashola said the NNPC is tentatively offering to sell petrol to IPMAN at N995 per litre.
He assured the association members that, with the new ex-depot price, they would sell petrol at a lower cost than other significant marketers.
He, however, said that distance is another determining factor.
IPMAN to sell petrol at N1,200
The IPMAN official said they will sell at N1,200, depending on the location. The new price will be a slight reduction, but the official stressed that trucking the product to a far distance will mean higher prices.
He could not disclose the exact price, but the association works on it, especially in the Lagos area and other zones.
Punch reports that Fashola said that IPMAN is interested in competitive prices, stressing that the price disparity has discouraged independent marketers.
7 key facts to know about the Red Line
Legit.ng earlier reported that President Bola Tinubu inaugurated the Lagos Red Line rail on Thursday, February 29, marking a crucial milestone in enhancing the city’s transportation network.
The Red Line Rail Project, a major infrastructure initiative, is poised to enhance urban mobility in Lagos.
Below are some of the crucial details of the newly inaugurated rail line
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Source: Legit.ng
