A recent study by the Danne Institute for Research reveals that Lagos, Nigeria’s commercial hub, experiences an annual economic loss of N4 trillion due to severe traffic congestion.
The report, funded by the Bank of Industry and Africa Finance Corporation, emphasizes the urgent need for intervention to mitigate the economic and social impact.
Behavioral factors, including poor road infrastructure, traffic law violations, activities of agberos (street touts), and inefficient public transportation, are identified as the primary causes.
The study recommends immediate action, highlighting the potential redirection of these losses to critical sectors such as education, healthcare, and infrastructure development.
The report urges the government to prioritize road construction, maintenance, and the enforcement of traffic laws to enhance productivity and generate revenue..
