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55-year-old Lagos residents have spent nearly 7 years in traffic โ€“ FDC report

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Persons who are 55 years old and resident in Lagos State have spent almost 7 years of their lives in traffic.

This is contained in a report by Financial Derivatives Company (FDC) Limited led by renowned economist, Bismarck Rewane.

In its 2022 outlook, the FDC noted that on the average, Lagos residents spend more than 1,000 hours in traffic annually.

The Nigerian research and investment firm said the figure dwarfs the time people in London expend in congestions.

โ€œLagosians are spending approximately 1,080 hours a year in traffic, compared to 148 hours in London, the city with the worst traffic jams in the world (excluding Nigeria and Egypt).โ€

FDC says this comes to 12.5 per cent of the time in a year and translates to 6.76 years in a life expectancy of 55 years.

In other cities, Paris residents spend 140 hours in traffic, Brussels (134), Palermo (109), Moscow (108), Rome (107), Chicago (104), Lyon (102), New York (102), Bucharest (98).

Despite government efforts, including road expansions and traffic management, gridlock persists in Lagos, with a population of 20 million.

The situation has cost the people and businesses in Nigeriaโ€™s commercial hub man-hours and billions of Naira.

DAILY POST findings show that Lagosians are still furious about the 2019 ban on bike services provided by tech companies, Gokada and Opay.

Many insist that the way out is more investments in water transport as well as construction of alternatives roads, flyovers and rail lines.

The Lagos government has assured that the work on Blue and Red Rail Lines will be completed in 2022.

Last week, the House of Assembly approved Governor Babajide Sanwo-Oluโ€™s request for N18,225,336,103 loan for the Lekki-Epe road expansion.

The Federal Ministry of Finance, Budget and National Planning is to provide the funds that will cover some other projects.