The Lagos State Government has reportedly lost at least N234 million to the closure of tollgates as a result of the #EndSARS protests.
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.
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.
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”.
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.