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Friday, October 22, 2021

How EndSARS Protest Cost Lagos State NGN234 million Revenue In Two Weeks

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EndSARS Protesters have cost the Lagos State Government at least NGN234 million in revenue as the protest stretches into another week. The state government is set to lose even more revenue, with a projection of close to NGN1 billion if the EndARS protest lasts till the end of October.

The revenue lost was from the Lekki tollgate, which is one of the significant revenue sources of Lagos. The Lekki tollgates were blocked by the protesters to gain the attention of the state government over the continuous harassment and killings of youths in Lagos and across Nigeria by the dreaded police unit, the Special Anti-Robbery Squad (SARS).

Breakdown Of The Revenue Loss
The protest began on October 8, 2020, in Lagos State and across Nigeria. Since the protest began, the Lekki tollgate has lost about NGN234 million. It was gathered that the Lekki-Ikoyi Link Bridge generates about N10 million daily, while the Admiralty Circle Plaza along the Lekki-Epe Expressway generates about N16.6 million a day.

Lagos To Lose Close To A Billion Naira
If the protest drags into a month, AllNews projects that the Lagos State Government might lose close to a billion naira. This is as the Lekki-Ikoyi Link Bridge generates about N300 million monthly, while the Admiralty Circle Plaza generates about N500 million monthly.

These figures were revealed by a Commissioner who spoke to Punch on the condition of anonymity. The projected revenue is dependent on the day, it was learnt, “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,” the Commissioner disclosed.

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