Subsidy Removal: Capital Luxury Transit Slashes Fare by 25%

Okon Bassey in Uyo

A Nigerian transport company, Capital Luxury Transit, is to slash its transportation fare by 25 per cent across the country, in order to cushion the effects of fuel subsidy removal on road travelers.

A statement signed by the Chairman, Capital Luxury Global Group, Mr. Edidiong Udoidiong, in Uyo, yesterday, indicated that the decision was to ameliorate the hardship passengers face following the removal of fuel subsidy.

Noting that the company would not want to overburden its customers with hike in cost of transportation, Udoidiong assured that luxury and comfort with which the vehicles are known for would remain sacrosanct despite the reduction.

According to the statement, “the recent removal of fuel subsidy has undeniably affected various sectors, including transportation, and we are keenly aware of the impact this has on our valued customers.”

“In light of the prevailing economic challenges facing our great nation, Capital Luxury Transit, a trailblazer in luxury road transportation, has taken a bold step towards mitigating the burdens on our esteemed passengers.

“We are excited to announce a nationwide fare reduction of up to 25 per cent which commenced since June 15, 2023 (two months and ongoing).

“Despite these complex circumstances, Capital Luxury Transit remains resolute in its commitment to delivering luxury, safety, and convenience.

“This fare reduction, a testament to the CEO’s compassion and foresight, underscores the unwavering resolve to serve customers with a commitment that transcends financial challenges,” the statement added.

According to the statement, the fare reduction was not only to ease the financial burden on passengers, but part of the company’s corporate social responsibility in times of economic difficulty.

Udoidiong said the nationwide fare reduction would encompass all the routes and services.