A new research by the Danne Institute for Research has revealed that severe traffic congestion in Lagos, Nigeria’s commercial centre, is costing the country an astounding N4 trillion a year.
The Bank of Industry and Africa Finance Corporation funded the study, “Behavioural Causes of Traffic Congestion in Lagos,” which emphasised the urgency of taking quick action to lessen the financial and social costs.
The report was issued on Wednesday.
According to the Executive Director of the Danne Institute for Research, Franca Ovadje the staggering loss could otherwise be directed toward vital sectors such as education, healthcare, and infrastructure development.
The report identifies behavioral factors as the primary culprits, including poor road infrastructure, violation of traffic laws, activities of agberos at bus stops, and buses picking up passengers.
Ovadje emphasized that the 21 million-strong population of Lagos is not translating into corresponding productivity due to the crippling impact of traffic jams on daily life.
The report suggests that doubling the population in developing countries should result in a 5 to 6 per cent growth in productivity.
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