This paper investigated the political economy of mass transit programme in Nigeria using federal government post-petroleum subsidy removal intervention as a case study. The primary objective of the study is to determine the impact of the intervention on the socio-economic and mobility hardship that resulted from the removal of the subsidy. With the aid of secondary and primary sources of data collection, the paper observed that contrary to its original aim, the mass transit programme now pursues elites’ economic interest. It further observed that the programme became an instrument of political settlement and a capitalist programme for profit maximisation because all the government owned mass transit companies have been commercialised. It observed also that the intervention has no positive impact on the socio-economic and mobility hardship of the people. Thus, the paper recommends a reversal of the commercialisation of mass transit companies, government donation of vehicles to labour unions and government own transport companies.