Dangote loses N25b to Apapa gridlock

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From left: Federal Controller of Works, Lagos, Mr Adedamola Kuti; Director of Highways Construction and Rehabilitation, Mr Oluyemi Oguntominiyi; Group Executive Director of Strategy, Capital Projects and Portfolio Development, Dangote Industries Limited, Mr Devakumar Edwin; Minister of Works and Housing, Mr Babatunde Fashola; and President of Dangote Group of Companies, Alhaji Aliko Dangote, during the inspection of ongoing works on Apapa-Oshodi Road construction, in Lagos on Saturday (28/12/19). 08868/28/12/2019/Olatunde Okoya/BJO/NAN

Africa’s richest man Aliko Dangote said he lost N25 billion($68.6million) to the Apapa ports-Oshodi gridlock from 2017 to the 2019 financial year.

He spoke on Saturday evening as he and works and housing minister, Babatunde Fashola took a tour of the most vital highway in Nigeria, now being rebuilt by the Dangote Group at a cost of N72.9 billion.

He lauded the quality of work taking place on the road, saying that the development was reviving commerce in the Apapa area.

“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.’’

He commended the cooperation of Apapa residents, noting that the development was responsible for the progress of the reconstruction.

He said the road would have 10 lanes, stretching from Apapa to the Toll Gate at Ojota on the Lagos-Ibadan Expressway.

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