Africa’s richest man and the Chairman of Dangote Industries Limited, Alhaji Aliko Dangote has revealed that Nigerian economy is losing an estimated N20 billion on a daily basis to the bad roads around Apapa, Lagos.
Dangote disclosed this fact during a chat with the journalists in Lagos on Tuesday, June 2017. He categorically stated that the country is losing about N140 billion weekly to traffic gridlock on all roads linking the city.
“The economy loses more than N20 billion daily. It affects businesses across the country. All our operations in the hinterland in Ilorin and Kano are operating at 40 percent capacity."
Apapa is a commercial city of Lagos with the country’s largest and busiest seaports (Tin-Can Island and Wharf Ports) and a site of many big manufacturing conglomerates in Nigeria.
“Today, there is no road linking the South-West to the North. You have to go all the way through Ajaokuta, Obajana, Lokoja and you have to go through the uncompleted road Obasanjo started 13 years ago,” Mr Dangote stated.
The Nigerian businessman also used the occasion to address its commitment towards addressing the problem through the corporate social responsibility of the Dangote Group and Flour Mills of Nigeria (FMN).
“Because it is very embarrassing! We can’t just sit and have a road like that where it is the heart of the trade of the country. More than 60 percent of our country’s import and exports come through the port and we leave it unattended.”
It would be recalled that the Federal Government, represented by the Ministry of Power, Works and Housing and Nigerian Port Authority signed a Memorandum of Understanding (MOU) over the weekend with Dangote Flour Mills and Flour Mills of Nigeria.
Mr Dangote also used this opportunity to address some aspect of the construction including the involvement of FMN and the use of AG Dangote Construction Company to execute the project.
“Both Dangote and Flour Mills are pumping in over N2.5billion for a two-kilometre double lane on each side making a total of four kilometres. we had started on our own and Flour Mills said they will join us."
He also noted that: “…government changed the design because they want all the cables and pipes underground, to ensure a more robust solution.”
“To help in bringing the cost down, I have to force AG Dangote Construction Company to do this project at zero profit.”
“The biggest job is drainage because that is what is destroying the road. We will make sure this problem is sorted out once and for all.”