The Lagos State Government has revealed that the state suffers an annual economic loss of approximately N1 trillion due to the severe traffic gridlock plaguing its roads.
This was disclosed by Sola Giwa, the Special Adviser to Governor Babajide Sanwo-Olu on Transportation, during the official opening of the Second Lagos Traffic Conference held on Tuesday at the Eko Hotel and Suites, Victoria Island.
The conference is one of the events marking the 25th anniversary of the Lagos State Traffic Management Authority (LASTMA).
According to Giwa, the loss stems from the drastic dip in productivity as commuters spend an average of six hours daily navigating Lagos roads.
“Commuters in the state spend an average of six hours daily navigating the city’s clogged roads,” he said.
He further noted that ongoing interventions by LASTMA have already helped reclaim an estimated N4 billion worth of productivity previously lost to congestion.
“Ongoing traffic management efforts by LASTMA have already helped the state recover approximately N4 billion worth of productivity previously lost to gridlock,”
he added.
The three-day event, themed “Enhancing Traffic Efficiency and Safety on Lagos Roads: Challenges, Opportunities, and Innovations,” was officially declared open by Governor Babajide Sanwo-Olu, who was represented by Deputy Governor Obafemi Hamzat.
The conference attracted a wide range of stakeholders, including transportation experts, urban planners, policymakers, academics, law enforcement agencies, private sector leaders, and international partners. Discussions centered on developing actionable solutions to Lagos’s persistent transportation challenges.
A major highlight of the event was the launch of the Lagos State 20-Year Strategic Traffic Management Policy, unveiled by Olalekan Bakare-Oki, the General Manager of LASTMA. The comprehensive policy outlines long-term goals to reform the state’s traffic system, focusing on improved road infrastructure, better enforcement mechanisms, and the adoption of smart mobility technologies.
