The President, Dangote Group, Aliko Dangote, has disclosed that his two companies located within the Apapa Port, lost over N25 billion between 2017 and 2018 as a result of congestion caused by gridlock at the port axis.
Mr Dangote made the disclosure on Saturday during the inspection of the ongoing reconstruction of Apapa-Oshodi-Toll Gate with the Minister of Works and Housing, Babatunde Fashola.
“We also operate inside the port. If you look at our income between 2017 and 2018, we lost over N25 billion because of congestion.
“We are able to produce but we are not able to come out of the port because of congestion of the port resulting from the gridlock in the Apapa axis,” Mr Dangote lamented.
Speaking on the project, Mr Dangote said: “You must have seen a lot of containers and trucks all over the place because of the deplorable condition of the road which made a lot of businesses to relocate out of Apapa.
“But with the completion of the road, businesses will return to Apapa.
“This road will actually open the economy, it will bring a lot of jobs and factories that have moved out to come back, and their businesses will prosper better than before. Assuring that the road will be completed before the end of 2020, he said
“We are grateful to the President for approving this road for reconstruction.
“That is why we are working day and night to be able to meet the delivery period on schedule and of high quality, and I can assure you that this will be one of the best roads not only in Nigeria, but Africa,” Mr Dangote stated.
On his part, Mr Fashola who led the inspection said President Muhammadu Buhari had vowed to bring an enduring solution to the problem that has characterised the port road.
“We appeal to commuters who are going through some hardship now because of the ongoing reconstruction work that we mean well. We will do proper and enduring job because the president’s mandate is that this job must be an enduring solution.
“We expect that by the end of 2020, the entire road network will be finished, we will have a road that will last for forty years or more, and by that time of course, we expect that part of the rail from Lagos to Ibadan should start some operation, and this will make our roads to begin to last to their actual design life.
“All the roads such as Lagos-Ibadan, Lagos-Badagry, Lagos-Abeokuta, Ikorodu-Shagamu and others that people have complained about have been revived.
“We understand the pains people go through because of the situations of the roads. But as we finish them, things will certainly get better. So, I wish our viewers pleasant 2020, as we make progress on this road,” Mr Fashola noted.