LASG loses N234m revenue to Anti-SARS protest in one week

Govts, private business owners hit with million naira losses to EndSARS protests

By allcitynews.ng

Unless their demands are met, the ongoing anti-SARS protests may cause more harms  to the economy.

As governments and private business owners strive to recover from the harm down to the economy  by corronavirus pandemic, the endSARS protests across many states may do more damage if Federal Government should turn down their demands.

Already Lagos State Government has recorded loss of N234 million in one week to the protest along Lekki-Epe Express Road alone within first week.

Protesters marxhing along with forming fence

Likewise private businesses, especially those whose dealing is in online have started groaning as virtually all networks have broken down as workers in technical and network units of network outfits could not reach their offices.

Speaking with allcitynews.ng, one of the private banking service provider, using POS, Miss Ajayi in Magboro Area, Ibafo said, “We are not able to do transfer or withdrawal for any customers as all networks of banks have broken down because workers in charge those units are being blocked from from going to work.”

The protests across many states and Abuja entered week two by 19 October, both private and governments already recording billions of Naira loses.

A business owner, who simply identified himself as Dimaji who is into wholesale and retail provisions, said, going for refilling of exhausted goods has become herculean task because all roads are block. And on government side Lagos State BRT has suspended operation of its transportation business while  all private commercial vehicles have stepped aside thereby grounding businesses.

Not able to hide the loss, Lagos State Government burst out in lamentation saying “Lagos State Government loses N234 million to toll-gates closure as a result of the #EndSARS protests.

For example a figure obtained from the daily and monthly targets set for the toll-gates by the government which owns the toll-gates, which are being managed by the Lekki Concession Company.

A report by Punch Newspaper shows that “At least 80,000 cars use the toll-gates 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”.

Findings revealed that the Lekki-Ikoyi Link Bridge was expected to generate about N10 million 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 N16.6 million 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.