The task of estimating the choices which commuters makes with the relevant money cost and travel time in order to establish the trade -off, they are making between time and money is fast becoming a component of modal choice decision in transportation planning. This studies attempt to evaluate the relationship between mode patronage and mode characteristics among commuters in Lagos metropolis. The study uses multinomial logit model to explain discrete choices i.e. choices commuters have to make among the mutually exclusive modes of transport. The result shows that majority of Lagos metropolis residents do not commute by train and quite larger proportion do not even commute by ferry services despite the huge potential that these modes of transportation offers in the study area, therefore making the road transport mode the dominant mode of transport for commuting with its attendant negative consequences. It is hereby recommended that transport Policy makers in Lagos metropolis should intensify its efforts at having an accessible network of metro line railway system for mass transportation of workers at affordable fare. This recommendation is anchored on the fact that access to affordable transportation options is a key factor in the economic mobility of the working poor. Consequently, there is need to adequately invest in all modes of public transportation (rail, inland waterways and road) as this will not only ensure that there is a balanced transportation system in Lagos metropolis but mass movement of workers at most affordable cost and quality environmental sustainability will be guaranteed.