Public Management

Nigeria: Lagos to kick-start bus reform initiative with $97 million

Monday, 13 March 2017 12:58

The Lagos State government during the weekend revealed plans to kick-start a proposed Bus Reform Initiative this year with the sum of N30billion ($97 million). This initiative is aimed at providing Lagosians with an integrated public transportation system.

According to Lagos State Governor, Akinwunmi Ambode (photo), the reform initiative is a three-year plan under which 5000 air-conditioned buses would be introduced to replace existing yellow commercial buses known as Danfo. We decided that the best thing is to allow the yellow buses go and bring in new buses of 5,000 units in the three-year plan. The bigger size buses will take 70 people and then the medium range buses will take 30 people,” Ambode said.

He explained that his administration plans to fund the initiative by launching a 10-year N100billion ($323 million) public transportation infrastructure bond, adding that the government already has a sinking fund in place to inject into the bond. He urged commercial bus drivers, who would be beneficiaries, to conform to the initiative.

This is just a paradigm shift where they move from being addressed as Danfo drivers but as professional drivers. It is something we have been working on in the last one year and we don’t come out to say we are going to do anything without working properly on it. We intend to go to bus parks to educate people”, the Governor explained.

Anita Fatunji

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
The Bank of Ghana plans to sell up to $1 billion on the FX market in January 2026. The central bank aims to limit exchange-rate volatility...
Renaprov Finance plans a BVMAC IPO to raise CFA8.4 billion by offering 44.44% of its capital to the public. The listing would make Renaprov the second...
Egypt’s central bank and Afreximbank signed an MoU to create a pan-African gold bank. The partners will conduct a feasibility study covering technical,...
Burkina Faso plans to launch a certified electronic invoicing system in January 2026. Authorities aim to raise tax revenue, curb VAT fraud, and reduce...
Most Read
01

The BCID-AES launches with 500B CFA to fund Sahel infrastructure, asserting sovereignty from the B...

AES Launches Confederal Investment Bank: A Strategic Pivot Toward Sahelian Financial Sovereignty
02

Togo passes new law tightening anti-money laundering and terrorism financing rules Legislat...

Togo Overhauls Anti-Money Laundering Rules to Meet Global Standards
03

Creditinfo licensed to operate credit bureau across six CEMAC countries Bureau to collect b...

CEMAC Bloc Clears Way for Private Credit Bureau: New Implications for Regional Lending
04

Nigeria confirms tax reform takes effect Jan. 1, 2026 despite opposition PDP alleges illegal inse...

Nigeria’s Tax Overhaul Set to Take Effect Amid Fury Over ‘Illegal’ Changes
05

Gabon names Thierry Minko economy and finance minister in Jan. 1 reshuffle Move follows tra...

Gabon Appoints Thierry Minko Economy Minister in Post-Transition Reshuffle
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.