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.
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.