The Special Adviser to Governor Babajide Sanwo-Olu on Transportation, Sola Giwa, has disclosed that Lagos State suffers an estimated annual economic loss of N1 trillion due to the productivity drain caused by prolonged traffic congestion.
He noted that commuters in the state spend an average of six hours daily navigating the city’s clogged roads.
Giwa made the revelation on Tuesday during the official flag-off of the Second Lagos Traffic Conference, held at the Eko Hotel and Suites in Victoria Island. The event was part of activities commemorating the 25th anniversary of the Lagos State Traffic Management Authority, LASTMA.
According to him, ongoing traffic management efforts by LASTMA have already helped the state recover approximately N4 billion worth of productivity previously lost to gridlock.
Themed “Enhancing Traffic Efficiency and Safety on Lagos Roads: Challenges, Opportunities, and Innovations,” the three-day conference was formally declared open by Lagos State Governor Babajide Sanwo-Olu, who was represented at the event by his deputy, Dr Obafemi Hamzat.
The high-level gathering brought together a diverse array of stakeholders including transportation experts, urban planners, policymakers, academics, law enforcement agencies, private sector players, and international partners.
Attendees are expected to evaluate the evolving dynamics of urban mobility and offer actionable strategies to tackle persistent transportation challenges in Lagos.
A key highlight of the event was the unveiling of the Lagos State 20-Year Strategic Traffic Management Policy by the General Manager of LASTMA, Olalekan Bakare-Oki. The long-term blueprint outlines a comprehensive framework to reshape the state’s transportation ecosystem.
It focuses on improving road infrastructure, enhancing enforcement mechanisms, and promoting smart mobility solutions across the state.
