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
BADEA provides a $75 million term loan to Africa Finance Corporation to expand infrastructure financing capacity. AFC plans to channel the funds...
Afreximbank plans a $1 billion continent-wide single transit guarantee to cut customs delays and losses. A similar system already operates in...
BOAD will introduce a stock-market-listed composite index directly correlated with its financial performance. The instrument forms part of a broader...
ECOWAS Bank unveils plan to boost agricultural industrialization in West Africa Region lacks midstream processing capacity; over 85% of crops...
Most Read
01

Anthropic, Rwanda’s government, and ALX launched Chidi, an AI mentor built on Claude. It wi...

Anthropic Partners with Rwanda, ALX to Deploy Claude-Powered AI Learning Companion Across Africa
02

(MCB) - The Mauritius Commercial Bank Limited (“MCB”) has successfully granted a strategic financing...

MCB deploys strategic financing to Invictus Investment to scale up its agro-food operations in Africa
03

S&P upgrades Zambia to CCC+ as debt talks advance and copper output rebounds. About 94% of $...

S&P Raises Zambia’s Foreign-Currency Rating to CCC+
04

MTN Innovation Lab hosts Africa HealthTech Export 2025 Bootcamp in Cotonou Event targets s...

Africa HealthTech Bootcamp Opens in Benin With Focus on Regulation and Startup Growth
05

Attack risks internet disruptions; investigation launched near Massakory EU-funded project aims ...

Chad Reports Second Vandalism Attack on Key Internet Cable in Two Weeks
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.