Ruiti Agbero Limited, the Fare Payments as a service provider has introduced the Agbero App. It is available for download from the Google Playstore. The Agbero App is a city-wide fare payments Service.
In a low-income economy, as we have in Nigeria, the ‘Agbero’ App is a positive response to the yearnings of the riders to have a fare system commensurate with their ability to pay.
Ridership and Revenue
- The philosophy behind it is simple: a reduced fare leads to an increase in ridership and profitability. And conversely, increased fares will lead to low revenue intake for the transport operators as the ridership population decreases.
- Prospects for increased capacity
The Agbero App will pave the way for organized Private Sector (OPS) – led public transport operations in Nigeria because the financial intermediaries are thereby assured of guaranteed return on investment (ROI).
- To travel for a whole day, the rider will buy a ticket with a mobile phone. And ride on the boats/ferries/buses operators partnering with the Agbero App.
The Transaction Dynamics
The Agbero which is a fare payment as A – Service – App enables transport operators to use a platform that gives them fare collection on a platter. They simply log on and they are in service.
It is designed to complement their existing ticketing arrangements.
The Agbero pays them as the riders use their services.
And the commuter pay once.
The plan is simple; riders pay with their phone and receive a ticket, which enables them to ride, on a One – Day – Travel, round the city.
Comparative Statistics: London vs Lagos
|1.||Population||9.5 Million||25 Million|
|4.||Riders Population||6,000,000 (6 Million)||12,000,000
For rolling stocks financing, the Agbero App is a transparent Cost Recovery Mechanism.
Therefore, institutional fund providers have a lot to gain from supporting the Agbero Mobile Ticketing Solution for Public Transport in Nigeria.
The Core Deliverables
- Mobile Ticketing Solution
- Limitless Ticketing Capacity
The Specific Deliverables
- Riders Bring Their Own Ticket
- The Riders Ticket in His / Her own pocket/bag
- Reduction In Cost Of Operations For Transport Operators
- Lower Fares for Riders / Commuters / Passengers
- All Round Cashless Transactions
- Achieving the COVID – 19 Protocols e.g. Social Distancing In Ticket Purchasing Process, Non-Touching Of Common Surfaces Like Cash, Paper / Plastic Tickets etc.
According to the CEO, the starting date is July 2020 and the registration of public transport operators has begun on www.ruitiagbero.com
Riders, i.e prospective users may begin to download the Agbero app immediately and create their accounts in readiness for the commencement of operations. And there is a very attractive reward for the early buyers of the tickets.
The Agbero is implemented in every Nigerian metropolis having 1 (one) million or more commuters moving per hour in all directions daily.