Lagos State loses ₦1 trillion yearly to traffic gridlock

The Lagos State Government has revealed that the city suffers a staggering annual economic loss of ₦1 trillion due to the crippling effects of daily traffic congestion.

Speaking at the official flag-off of the Second Lagos Traffic Conference on Tuesday, July 15, the Special Adviser to Governor Babajide Sanwo-Olu on Transportation, Sola Giwa, said the persistent gridlock has led to a significant productivity drain, with commuters reportedly spending an average of six hours daily in traffic.

“Lagos loses an estimated ₦1 trillion annually to traffic gridlock. But our efforts through LASTMA have recovered close to ₦4 billion in productivity that would have otherwise been lost,” Giwa stated.

The conference, held at the Eko Hotel and Suites, Victoria Island, marked the 25th anniversary of the Lagos State Traffic Management Authority (LASTMA).

It was themed “Enhancing Traffic Efficiency and Safety on Lagos Roads: Challenges, Opportunities, and Innovations.”

Governor Babajide Sanwo-Olu, represented by his deputy, Dr Obafemi Hamzat, declared the three-day event open.

One of the key highlights of the conference was the unveiling of a 20-Year Strategic Traffic Management Policy by LASTMA’s General Manager, Olalekan Bakare-Oki.

The long-term framework outlines plans to transform the state’s transport landscape through infrastructure upgrades, enhanced enforcement, and the integration of smart mobility solutions.

The high-level gathering drew together transportation experts, urban planners, law enforcement agencies, private sector stakeholders, and international partners.

Attendees are expected to develop actionable strategies to address Lagos’ complex mobility challenges.

“This is not just about today; it’s about the Lagos of tomorrow. We must innovate, collaborate, and commit to sustainable traffic solutions,” said Bakare-Oki.

With over six hours lost daily to traffic, the state government is now seeking long-term reforms to reclaim its roads and economy.