- President Tinubu has credited investments in CNG, electric and hybrid transport for fare reductions in Abuja, Enugu and Borno
- Fares in Abuja reportedly fell from N1,500 to N500, while commuters in Enugu saw prices drop from N4,000 to N1,600
- Tinubu warned that unfunded government promises could pass financial burdens on to future generations
Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
President Bola Tinubu has celebrated reported reductions in transport fares across Nigeria, citing lower prices in Abuja, Enugu and Borno.
The president attributed the reductions to investments in compressed natural gas (CNG), electric and hybrid transportation, saying the savings would leave commuters with more money for essential household expenses.
Source: Getty Images
In a Facebook post, Tinubu said transport fares had dropped from N1,500 to N500 in Abuja, while prices in Enugu fell from N4,000 to N1,600.
He also cited fares as low as N50 in Borno, adding that similar savings had been recorded on several other routes nationwide.
New transport fares shared by Tinubu
Location | Previous fare | New fare | Savings |
Abuja | N1,500 | N500 | N1,000 |
Enugu | N4,000 | N1,600 | N2,400 |
Borno | As low as N50 |
The figures were provided by Tinubu, but his post did not specify the routes, journey distances or transport operators covered by the fares.
Tinubu speaks on cost of living
The president said his administration was expanding access to affordable transportation while implementing measures to cushion the impact of rising fuel costs.
He added that lower transport costs could help Nigerians allocate more money to food, school fees and other household needs.
Tinubu also addressed competing political proposals to reduce the cost of living, saying Nigerians should consider how such plans would be funded, delivered and sustained, Punch reports.
He warned that postponing the costs of government policies would not eliminate the financial obligations, which could eventually fall on Nigerians and future generations.
Source: Getty Images
Tinubu's statement reads in full:
" I am encouraged by reports of lower transport fares through our investments in CNG, electric and hybrid transportation.
From N1,500 to N500 in Abuja, N4,000 to N1,600 in Enugu, and fares as low as N50 in Borno, with similar savings on many more routes nationwide.
These savings mean more money for food, school fees and other household needs. We are expanding access to affordable transportation while implementing measures to cushion rising fuel costs.
As the political season gathers momentum, Nigerians will hear competing proposals to reduce the cost of living. The important questions are how each proposal will be funded, delivered and sustained.
A deferred bill is still a bill. Any promise that depends on postponing its costs leaves an obligation that Nigerians, including future generations, may eventually have to meet.
My responsibility is to deliver relief Nigerians can feel today while protecting our children’s future."
Economist: Tinubu’s reform gains yet to improve living standards
Earlier, Legit.ng reported that the Centre for the Promotion of Private Enterprise (CPPE) has said the economic gains recorded under President Bola Tinubu's reform programme have not yet translated into better living conditions for ordinary Nigerians.
In a statement, CPPE Chief Executive Officer, Dr Muda Yusuf, acknowledged improvements in key economic indicators, including government revenues, foreign exchange market stability, external reserves, trade surplus and investor confidence.
He, however, said the benefits of macroeconomic stabilisation had not sufficiently reached households and businesses.
Source: Legit.ng
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