Recession: Transporters Hike Prices to Prevent Imminent Collapse

The Association of Luxury Bus Owners of Nigeria (ALBON) has announced a N1000 flat increase on the rates of all its routes in the country, in order to prevent ‘imminent collapse’ of the industry.

President, Chief Dan Okemuo in a statement explained that although its members understood the economic crunch in the country, it had to take this decision as a ‘painful survival measure’ insisting that if the Federal Government does not come up with incentives and palliatives, the industry would tip over the brink of collapse it currently finds itself.

Dilapidated roads, rising costs of vehicle maintenance, and increases in other running costs necessitated the decision to review the prices upwards, according to the association. Quoting examples such as increases in diesel, petrol and lube oil prices, the President, Chief Dan Okemuo, said the recession was to blame for this increase.

Leadership News reports that, the new transport fare for Lagos-Abuja route is N7,000, Lagos-Kano is N7,500 and Lagos to Port Harcourt is now N6,200.

Also noting the terrible conditions of the highways, Okemuo explained that several of them remain deathtraps for both buses and commuters, stating that ‘there is an urgent need for the Federal Government to carry out major repair work on them in order to reduce the huge maintenance burden members are challenged with as a result of the deteriorating state of the highways’.

-Leadership News.

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