The President of the Dangote Group, Aliko Dangote, has revealed that he lost N25 billion in Lagos due to the Apapa gridlock.
According to Aliko, the company lost 25 billion in accruable revenue from 2017 to the 2019 financial year due to the Apapa gridlock in Lagos State.
Aliko Dangote said this on Sunday as he inspected reconstruction work on the 35-kilometre Apapa-Oshodi-Oworonsoki-Ojota highway in Lagos alongside the Minister of Works and Housing Babatunde Fashola. He said;
“This road will actually open up the economy. It will bring a lot of jobs and a lot of factories that have moved out will be able to move back.”
“What I can also assure you is that this road will be finished before the end of next year.’’
On his part, the minister, Babatunde Fashola noted that the road would be delivered end of next year and that with its quality, it would last for more than 40 years.
“We expect that by end of 2020, the entire road network will be finished; you will have a road that will last for 40 years.” He said.
The reconstruction is the first since the road was finished in 1978. The first attempt to rehabilitate the road at N15bn was in 2013.
Work, however, stopped after the general elections in 2015 until 2017 when the Dangote Group came up with a proposal to fix the road.