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Lagos Loses N4trn To Traffic Congestion Annually
Indications have emerged that Lagos State may be losing as much as N4 trillion annually to traffic congestion that has become the hallmark of the state. Traffic Congestion
This is contained in a report by a Lagos-based research institute, Danne Institute for Research entitled “Connectivity and Productivity Report”.
The report is titled “Connectivity and Productivity Report”. It explained that the amount is derived from the culmination of estimated 14.12 million hours. This represents the time lost by Lagosians while commuting to work every day.
Professor Franca Ovadje, Founder/Executive Director, Danne Institute, presented the findings of the research. The presentation was done at a virtual Transport and Traffic Conference. It was organised by the institute.
Professor Ovadje explained that long commutes between where Lagosians live and work, among other factors, is a major cause of the unending traffic jams.
She also lamented that the growth of Lagos megacity is not leading to productivity increases. This is due to the state’s connectivity issues. Analysis Ovadje said: “We found that the cost to individuals of traffic congestion is N133,978.68 per annum. This is for those who own their vehicles and N79,039.40 each year for those who use public transport.
“The total loss to Lagos is estimated at 14.12 million hours per day or N3.834 trillion per annum.”
Governor Babajide Sanwo-Olu of Lagos State, who was represented by the Commissioner for Transport, Dr. Frederic Oladeinde, said Lagos was adopting a multi-pronged approach as the government is convinced that the state cannot spend its way out of congestion.
He explained that the strategy of the government is to modernise and maximise existing transport networks and implement the Lagos Transport Master Plan that proposes investment in a multimodal transport system like waterways and seven rail lines, and the development of the millionaire cities so that residents won’t have to go to the island to get well-paying jobs or do business.
