• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Business News

2018 Lagos State marathon May Have Generated Over ₦100 million in Revenue

Onome Ohwovoriole by Onome Ohwovoriole
February 10, 2018
in Business News
2018 Lagos State marathon May Have Generated Over ₦100 million in Revenue

Athletes at the 2018 Lagos State marathon.

Share on FacebookShare on TwitterShare on Linkedin

Lagos State government today, played host the third edition of the Access Bank marathon. The full marathon which is 42 kilometres, started at 6.30am at the National Stadium, Surulere, and ended at Eko Atlantic City, Victoria Island.

The second race, the 10km Family Race, started at 8.30am at Lekki Roundabout after the Ikoyi-Lekki Bridge and ended at the Eko Atlantic City. This is the inaugural edition for the family race. 

Kenyan born, Abraham Kiprotich, came first in the male category at 2:13:04, while his compatriot, Kiboss Ronny came second at 2:13:26. Victor Benjamin, also a Kenyan took the third position at 2:13:29.

RelatedStories

Lagos launches clean cookstove initiative with N10,000 monthly stipend 

Lagos launches clean cookstove initiative with N10,000 monthly stipend 

July 2, 2025

The 10 most indebted states in Nigeria as of December 2024

June 28, 2025

The Kenyans also dominated in the female category. Ayelu Hordofa took the first position winning at 2:35:17.  Herpha Guta came second and Girma Getachew third position. Figures from last year’s race show the top 15 winners were also Kenyans.

In the 10km race male category, Stephen Daniels came first.  Poku Luka took the 2nd place, while Joy Musa 3rd.

For the 10km female category, Rose Akuso came first. Fostina Ogu was the second, while Holland Saleh came third.

How much could the marathon have generated?

Prize money

A total of $185,000 was set aside as prize money for the 42 km race. A great chunk of this, however, will take the form of capital flight.  

The first 10 Nigerians are expected to share a total of ₦6.91 million. The first position will get ₦3 million. The second ₦2 million and the 3rd, ₦1 million.

Prizes have also been allocated for the 10 km race. The first prize winner will be awarded a GAC car. The next 4 runner-ups will win a total of ₦2.5 million

Indirect revenue made

The event last year had an estimated 70,000 participants. This could have increased to 100,000 this year. Assuming each participant spends at least ₦2000 today (before and after the race), that would generate total a minimum of ₦140 million. 

Here is a break down of how we think millions Of Naira may have been generated indirectly from the event. Merchants/dealers in the following goods had high patronage.

Water

A great chunk of the funds will go towards the water. While Aquafina and 7UP are the official beverage providers, other brands will not be left out. Hawkers during such events tend to hike the price of their products.  Aside the participants in the race, spectators in the sun would need to be rehydrated.

Food

Food vendors will also make a ton of money. People have to eat. Most of the marathon participants would not eat before the event, so there would be a demand for food right after the race. Also, for many, the marathon is not just a sporting event but a social event of a sort. Lagosians tend to be less picky about pricing when it comes to eating at such events. People also tend to eat more at outings. 

Transporters

While the state government has improved on traffic diversions during the day, traffic congestion tends to occur. Transporters often take advantage of situations to double and even triple their fares. This is to compensate for the extra hours spent in traffic. Many transporters often decide not to work on the day of the marathon, leaving commuters at the mercy of those available.

Hotels

There has been an increasing number of foreign participants in the marathon, and they would most likely stay on hotels on the Island. Hotel rooms go for at least N40,000 to N50,000 per night. The athletes would have arrived a few days to the event. 

Overtime payments

Law enforcement agencies such as the Police, Federal Road Safety Commission (FRSC) and Lagos State Traffic Management Authority (LASTMA) could get some kind of payments for work overtime during the event. Many of these officials are resident within the state and would spend a portion of any payments received here.


Follow us for Breaking News and Market Intelligence.
Tags: Lagos StateLagos State marathon
Onome Ohwovoriole

Onome Ohwovoriole

Onome Ohwovoriole has a degree in Economics and Statistics from the University of Benin and prior to joining Nairametrics in December 2016 as Lead Analyst had stints in Publishing, Automobile Services, Entertainment and Leadership Training. He covers companies in the Nigerian corporate space, especially those listed on the Nigerian Stock Exchange (NSE). He also has a keen interest in new frontiers like Cryptocurrencies and Fintech. In his spare time, he loves to read books on finance, fiction as well as keep up with happenings in the world of international diplomacy. You can contact him via onome.ohwovoriole@nairametrics.com

Related Posts

Lagos launches clean cookstove initiative with N10,000 monthly stipend 
Energy

Lagos launches clean cookstove initiative with N10,000 monthly stipend 

July 2, 2025
Economy

The 10 most indebted states in Nigeria as of December 2024

June 28, 2025
Lagos emerges the world’s fastest-growing tech city in 2025 
Sectors

Lagos emerges the world’s fastest-growing tech city in 2025 

May 22, 2025
Lagos plans N500 entertainment tax, eyes N20 billion annual revenue 
Real Estate and Construction

Lagos state delivers 9,970 housing units in six years, targets more homes by 2026 

May 13, 2025
Lagos govt bans articulated trucks from Lekki-Epe corridor during peak hours starting August
Sectors

Lagos State creates 3,941 parking slots to ease traffic congestion 

April 26, 2025
Lagos says 50% discount on transport fares will end by Sunday
Sectors

Lagos state-owned buses move over 40,000 commuters daily – Commissioner 

April 22, 2025
Next Post
Explained: Adding Naira to list of currencies used to pay for imports from Britain

Explained: Adding Naira to list of currencies used to pay for imports from Britain

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank








DUNS

Recent News

  • Kano drug centre seizes N1.3 billion worth of fake medicines, contaminated foods 
  • Lagos Govt to demolish buildings encroaching on Ikota River in Lekki area 
  • BREAKING: GTCO targets East Asia expansion, no plans for US 

Follow us on social media:

Recent News

pain killers

Kano drug centre seizes N1.3 billion worth of fake medicines, contaminated foods 

July 11, 2025
Lagos govt mandates permits for amplified sound in nightclubs, worship centres 

Lagos Govt to demolish buildings encroaching on Ikota River in Lekki area 

July 11, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics