Investors count N500m losses, blame Lagos govt for traffic enforcement failure

The worsening traffic congestion along the Ibeju-Lekki-Epe axis is impeding the movement of cargo and petroleum products in and out of the Lekki Port and the Dangote Refinery due to non-usage of the designated truck parks by truckers and failure of the Lagos State government to effectively enforce traffic rules and regulations.

This is despite the deployment of an electronic call-up system to regulate the movement of trucks in and out of the port and refinery areas that has been operational.

The situation has raised concerns among stakeholders, who fear that prolonged traffic gridlock could further hamper cargo evacuation and negatively impact port operations.

The stakeholders lamented that the failure of the state government to ensure that truckers use designated truck parks for proper traffic management before being called up to access the port for cargo evacuation has remained a major challenge.

Already, investors in truck park facilities are beginning to count their losses as the poor patronage of the parks has eroded confidence in the investment environment.

Managing Director of Admore Park, Shile Oloto, disclosed that over N500 million in bank loans had been invested in the park over the past three years without any corresponding return on investment.

Oloto attributed the situation to the failure of the state government to effectively enforce traffic regulations, which he said had contributed to the underutilisation of accredited truck parks in the axis.

Representative of Jancy Truck Park, Cyril Jonah, attributed the uncoordinated movement of trucks along the corridor to the state government’s failure to effectively enforce existing traffic regulations, noting that the four accredited truck parks in the axis were largely underutilised.

Reacting to the development, Managing Director of Lekki World Investments Limited, Adeola Olusodo, acknowledged that the worsening gridlock had become a serious challenge for both businesses and residents in the area.

Olusodo said efforts were ongoing to address the situation and restore smooth traffic flow.

Also commenting on the situation, the Port Manager, Nigerian Ports Authority (NPA), Lekki Port, Emmanuel Anda, attributed the poor enforcement of traffic regulations along the corridor to the non-involvement of the NPA in the formulation of the truck call-up system.

He said that the high volume of activities within the Lekki Free Trade Zone requires an efficient traffic management system to ensure smooth and uninterrupted flow of vehicular movement along the corridor.

Meanwhile, officials of the Federal Road Safety Corps (FRSC) were seen patrolling the coastal road leading to the port and refinery to ensure free flow of vehicular traffic.

In his reaction, Lagos State Commissioner for Transportation, Seun Osiyemi, acknowledged the gridlock along the Lekki Port corridor, but said the situation was not permanent.

Osiyemi said that the congestion was often triggered by rumours of an impending increase in the prices of petroleum products, prompting truck drivers to rush to the port to evacuate products before any hike takes effect.

The commissioner added that the government was committed to enforcing traffic regulations while ensuring that such measures did not unnecessarily disrupt business activities.