The Lagos State Government reports that gridlock costs the metropolis approximately ₦4 trillion every year, as commuters waste an average of four hours per day in traffic.
According to Sola Giwa, Special Adviser on Transportation to Governor Sanwo-Olu, the average Lagosian loses up to four hours daily to traffic congestion.
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₦4 Trillion annual economic loss
The time drain and transport inefficiencies culminate in an estimated ₦4 trillion in lost productivityeach year.
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He also noted that LASTMA has helped recover at least N4 billion in productivity previously lost to traffic congestion in the state.
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Themed “Enhancing Traffic Efficiency and Safety on Lagos Roads: Challenges, Opportunities, and Innovations,” the three-day conference was officially declared open by Governor Sanwo-Olu, represented by his deputy, Dr. Obafemi Hamzat.
An average motorist loses around ₦60 billion annually in extra fuel consumption caused by traffic jams.
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Public transport users spend roughly ₦79,000 yearly more, and drivers face fuel wastage of up to ₦133,800 per year.
Impact on Small Businesses
Micro, small, and medium-sized enterprises bear a heavy toll, productive hours lost in traffic translate into missed sales, tardy deliveries, and operational disruptions.
Total losses for businesses range from hundreds of millions to billions annually.
