News
Recalibration of regulated bus, ferry service validators on 50% bus fare cut
Operators of regulated bus and ferry services are recalibrating their validators to effect a 50 per cent fare cut directed by Governor Babajide Sanwo-Olu. The new fare will come into effect on Friday, 10th February 2023.
The fare slash, according to the Governor, is to “cushion the effects of the challenges thrown up by the lack of the new Naira denominations and the lingering fuel shortage.”
To effect the new fare, all the validators on regulated buses and ferry services will have to be re-calibrated so that commuters using the Cowry Card are not short-changed.
The recalibration will be effected on only regulated buses and ferry services.
Though the Governor directed that the new fare comes into effect on Thursday, February 8, operators have appealed to Lagosians to enable them use the next 24 hours to re-calibrate all the validators on regulated buses and ferry services. This order does not affect ‘Cowry Danfo.’
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Transcorp Hotels sells Calabar subsidiary to Eco Travels & Tours.
He noted that Eco Travels and Tours has a diversified portfolio, including hotel management, wellness and fitness facilities, family-centric spaces, and interior and exterior design and decoration.
The company secretary said, in the firm’s published 2023 audited financial statements, the company recorded 36 per cent revenue growth.
With the ongoing execution of its business strategies and optimisation of new business opportunities, he noted that the hospitality subsidiary would continue to deliver even greater value to all its stakeholders.
Transcorp Hotels Plc is the hospitality subsidiary of Transnational Corporation
Plc (Transcorp Group), one of Nigeria’s largest conglomerates.
The hospitality subsidiary is consistently reshaping the hospitality landscape in Africa, aligning with its mission to lead in the industry and contribute to Nigeria’s growth while positively impacting lives.
Notably, in 2023, the company’s shares concluded the year as the top-performing stock on the NGX.
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