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Home Economy Socio Economic

#EndSARS protest: Lagos loses N234 million to tollgates closure

Chidi Emenike by Chidi Emenike
October 19, 2020
in Socio Economic
#EndSARS protest: Lagos loses N234million to tollgates closure, EndSARS protests: British parliament to sanction request against Nigeria on Monday
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The ongoing EndSars protest against police brutality which has entered the ninth day has adversely affected the Lagos economy.

Especially as efforts are geared towards resuscitating economic activities in the state owing to a long period of economic redundancy due to the pandemic.

READ: LCC strikes back, says many e-tag users owe money from February glitch

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Preliminary findings by PUNCH have revealed that the Lagos State Government has lost at least N234m to the closure of tollgates since the commencement of the #EndSARS protests, although the state has continued to generate money from adverts at the toll plazas.

On how the figures were arrived at, PUNCH reported that the figure was obtained from the daily and monthly targets set for the tollgates by the government which owns the tollgates, which are being managed by the Lekki Concession Company.

READ: Lagos State explains it saved motorist N87 billion annually by removing Lekki roundabouts

What they are saying:

A Lagos State Commissioner who chose to remain anonymous was quoted by PUNCH saying: “At least 80,000 cars use the tollgates every day. The figure could be higher or lower depending on the day of the week. However, since the protests started, the Lekki tollgate has been completely shut, while the Ikoyi one has been left permanently open for people to use without payment”.

(READ MORE: Motorists to pay N1000 penalty at Lekki-Ikoyi Toll Plaza)

What this means:

Findings revealed that the Lekki-Ikoyi Link Bridge was expected to generate about N10m daily, generating nothing less than N300 million monthly, while the Admiralty Circle Plaza along the Lekki-Epe Expressway was expected to generate nothing less than N16.6m a day which gross about N500 million monthly. The breakdown of the fares includes;

  • Sport Utility Vehicles pay N250 at the Admiralty Toll Plaza
  • Saloon cars pay N200 at the Admiralty Toll Plaza
  • At the Ikoyi-Link Bridge, toll for SUVs, minivans and light trucks is N400.
  • Heavy-duty trucks/buses with two or more heavy axles pay N1,000 at the Admiralty Circle Plaza on the Lekki-Epe Expressway.

READ: Dala Inland Dry Port set to take off after N2.3 billion investment – Kano Govt.

Backstory: Nairametrics had earlier reported how motorists living in the Lekki-Ajah axis spent hours in traffic as #EndSARS protests caused traffic gridlock along the Lekki -Epe expressway stretch of the road.


Follow us for Breaking News and Market Intelligence.
Tags: #EndSARSLagos State GovernmentLekki-Ikoyi Link BridgNigeria Newstollgates closure
Chidi Emenike

Chidi Emenike

Chidi Emenike is a graduate of economics, a Young African Leadership Initiative Fellow and an Investment Foundations certificate holder. He worked as a graduate Teaching Assistant in the Federal College of Education Kano and is also a trained National Peer Group Educator on Financial Inclusion

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Comments 1

  1. Anonymous says:
    October 19, 2020 at 5:32 pm

    Abeg make wanna end them

    Reply

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