Lagos State, the commercial hub of Nigeria, is losing N4 trillion yearly to traffic congestion.
A recent study by the Danne Institute for Research disclosed this on Wednesday.
The study, titled ‘Behavioural Causes of Traffic Congestion in Lagos,’ funded by the Bank of Industry and Africa Finance Corporation, stressed the need for immediate action to alleviate the economic and social toll on the residents.
According to the Executive Director of the Danne Institute for Research, Franca Ovadje, the staggering loss could otherwise be directed towards vital sectors such as education, healthcare, and infrastructure development.
The report identifies behavioural factors as the primary culprits, including poor road infrastructure, violation of traffic laws, activities of ‘agberos’ at bus stops, and buses picking up passengers.