Nigeria loses n140bn to apapa gridlock weekly dangote

A very relevant and timely topic!

According to a report by The Punch, Nigeria loses a staggering N140 billion (approximately $380 million USD) weekly due to the Apapa gridlock, which has been a major headache for the country's economy. This is a significant amount, equivalent to about 1.5% of the country's GDP!

The gridlock, which has been ongoing for several years, is caused by a combination of factors, including poor infrastructure, inadequate logistics, and corruption. The situation has led to a significant increase in transportation costs, delays, and even losses for businesses and individuals.

Dangote, one of Nigeria's largest conglomerates, has been vocal about the impact of the gridlock on its operations. In an interview with The Punch, the company's Group Executive Director, Devakumar Edwin, stated that the gridlock has resulted in a significant loss of revenue for the company, which has had to divert its cargo to other ports.

The Apapa gridlock is not only affecting businesses but also the general public, who are forced to endure long hours of traffic congestion, leading to frustration and economic losses. The situation has also led to a rise in the cost of living, as goods and services become more expensive due to the increased transportation costs.

The Nigerian government has been working to address the issue, with various initiatives aimed at decongesting the port and improving the overall logistics system. However, more needs to be done to address the root causes of the gridlock and ensure that the country's economy can thrive.

In the meantime, it's essential for businesses, individuals, and the government to work together to find solutions to this problem.