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
SIB net profit rose to 56 billion CFA francs in 2025 Lower risk costs and higher income supported performance Assets, loans and deposits...
Loan-loss provisions at the nine BRVM-listed banks that reported 2025 earnings rose 18% to $137 million as regional growth hit a record 6.7%. BOA...
Company seeks to raise 485.8 billion naira through share offering Funds to support expansion and reduce debt Strategy aims to boost local sugar...
AFC raises $100 million from India’s Exim Bank over five years Funding to support infrastructure and industrial projects in Africa Deal reflects...
Most Read
01

(EBID) - EBID aims to allocate nearly 41% of its commitments to projects with environmental and...

EBID makes giant strides for a green transition in west africa
02

Mahindra & Mahindra is considering a CKD assembly plant near Durban to strengthen its presence i...

Mahindra & Mahindra Eyes Major Shift to Full Vehicle Assembly in South Africa
03

AFC disbursed €43 million for Côte d’Ivoire solar project Financing supports 66 MW pla...

AFC Backs First Green Project Finance Bond for 66MW Côte d’Ivoire Solar Plant
04

Mobile phones have become essential tools for work, education, payments and staying connected across...

EU Mandates Removable Phone Batteries. What It Means for Africa’s Device Market 
05

MTN Ghana launches crackdown on mobile money agent fraud Audits trigger warnings, suspensions...

MTN Ghana tightens controls on mobile money agents over fraud concerns
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.