The annual Lagos State marathon has just been concluded and a Kenyan Abraham Kiptum won the race at a time of 2 hours 15 minutes and 20 seconds. The top three winners of the event will be going home with $50,000, $40,000 and $30,000 respectively.
As with most sporting events, there are always winners and losers including those who did not partake directly in the sporting activity. We have compiled a our own list of winners and losers in this year’s marathon. Our list is not exhaustive so feel free to add yours.
There will be 60,000 people running in the marathon. Assuming each person takes at least 2 bottles of water, that means a 120,000 bottles will be consumed. At 50 naira a bottle, that comes to 6 million naira. Though Aquadana is the official water of the marathon, other water sellers will also benefit. At major events, the price of water often goes up.
Petty hawkers also stand to make some extra money. People will gather at particular points to cheer the runners. Standing in the sun means people have to eat, drink water, chew gum and buy stuff. That’s extra money for the hawkers. So the guy hawking gala could sell in a day the quantity he sells in two or three days.
Lastma and other law enforcement officials
The Lastma, police and other law enforcement officials helping out today are not working for free. They most likely will get overtime allowances, or even cash payments for working today. That money will still be spent within the state.
TV and Radio stations covering the event live, will charge hefty fees for advertisers and event organisers. This tends to come at a premium. So that’s extra income for them.
As headline sponsors of this event, the brand value they will accumulative will perhaps run into billions of Naira. As at September 2016, Access Bank reported that it spent about N1.13 bllion on Charities, Events and Sponsorship activities. Out of that amount about N78 million of the amount was spent on tax deductible charities, so you might not be way of the mark to guesstimate a range of between N200m – N300m for the event. Seven-Up recently signed a sponsorship deal as “official beverage partner” for the 2017 event said to be worth about N100 million.
On the losing side of the equation are transporters and artisans.
Shut down of several major roads means bus drivers will make less money. Many of them live on daily income. Assuming a driver does says 4 trips a day, the closed roads mean he could make half the amount he makes or maybe none.
Artisans like brick layers, electricians and the like wont make money, shutting down those roads may make it difficult accessing the island. Construction activities, are much more on the island. That shoe maker you see moving around all day. He will make less money today. Many people will be indoors, to watch the marathon, or simply to avoid traffic on the access routes to the mainland.
Traders looking to do early morning business were likely adversely affected by the marathon. Typically, roads are blocked and access to alternative routes are littered with heavy traffic.