Anger, Pains as Lagos Loses #4.7 Billion over Buhari’s visit - johnnybility

Anger, Pains as Lagos Loses more than #4.7 Billion over Buhari’s visit to Lagos State - johnnybility


Lagostians are not happy over the
untold hardship that was brought
About by President Buhari's visit
to the state.
Both the rich and the poor became
Profectional trekkers today in Lagos.

President Muhammadu Buhari
on Thursday began a two-day working
visit to Lagos State.
The event is a historic one as it marks
the first time the President will visit the
state since he assumed office on May 29,
2015.

While in the state on Thursday, he
performed the official flag-off
ceremony for the
construction of the Lekki Deep Sea
Port project, Ibeju Lekki, inspect
ongoing construction works at the
Eko Atlantic City, Victoria Island.

The cost of Buhari's visit to Lagos
State according to Johnnybility.Com

The Lagos State Government declared
a Public Holiday on Thursday the 29th
of March for the State to welcome the
president. This decision comes with
an opportunity cost to Lagos State in
terms of loss of economic value created
and salaries paid for work not done.

The former, we can extrapolate using
the states GDP figures, while the latter
we can determine from how much the
state pays its workers.

Using GDP

Based on a widely circulated figure, the
state claims it has an estimated GDP
of $90 billion. This equates to $246
million or N8.8 billion per day in loss
of economic activity. Let’s even assume
50% loss in value of economic activity
in the state, it comes to N4.4 billion.

Is this plausible? If you include the
disruption in economic activities due
to heavy traffic, roadblocks, restrictions
on movement to the public holidays
then a 50% loss is likely.

Employee Wages

The last most recent published accounts
of Lagos State was for the year ended
December 2015. In the account, the state
slaims its personnel costs amount to
N86.3 billion annually. Dividing that
into 12 months and 22 working days in
March amounts to about N327 million
only.

How much will it cost the Presidency

According to johnnybility.com , Figures
from the 2018 draft budget
place the expected budget for local trips
for the President at N250 million. For
security reasons, the exact details of the
President’s entourage and vehicles are
not disclosed.

Here is a rough estimate of how much
we think the trip will cost. Some
expenses will be borne by the Lagos
State government being the host state.

Advance party N10 million

An advance party usually arrives
before the President, to coordinate
protocol and logistics. Assuming the
advance party is made up of at least
200 officials, with each receiving an out
of station allowance of 50,000 per night.
That equates to N10 million

Air Transport N8.7 million

The President’s official vehicles are
usually moved by aircraft carrier ahead
of his arrival. This is done using a C-130
aircraft carrier. The C-130 has a tank
capacity of about 6000 gallons which
equates to 30458 liters. Using an
estimate of N220 per litre, fuelling the
plane could cost N6.7 million for a
one-way trip. For the regular
Presidential aircraft, fuelling costs
could hit N2 million.

Fuel N1,500,000

The exact size of the Presidential
convoy is unknown, as some cars in
the convoy belong to other agencies
related to the Presidency. Assuming
the Presidential convoy where to be 50
in number with an average fuel bill of
30,000 per vehicle. That adds to
N1,500,000.

Miscellaneous N5,000,000

While unknown, trips such as this also
factor miscellaneous expenses.
How much in total

Lagos State

• President's on GDP at 50% loss – N4.4 billion
• Based on salaries paid without work – N327 million

Total for Lagos State – N4.72 billion

We estimate this to be at least an

N5 million.

COMPLAINS BY MEMBERS OF THE PUBLIC

1) “HelloSir @AkinwunmiAmbode
Eh-Sir, this morning I av trekkk from
Sango to Mongoro because Say-Baba
is coming to open bus stop in Lagos.
is it fiar like that?
Sir, there's pandemonium everywhere.
Pls epp. #PMBinLagos”

2) “This isn't good governance!
This isn't what #Nigerians voted for!!!
All because of one man @MBuhari
Is coming to town! #PMBinLagos”

3) The compulsory exercise that we
are participating in in Lagos today
isn't because of the old man. He has
not even brushed his teeth this morning.

It's the pot-bellied one that is doing eye
service that we should direct our ire at.

#PMBinLagos

So i heard LAGOS the 4th Larqest city.. A city tha Generates $250million everyday is shutdown.. Cus #PMBinLagos is cominq to commission of-all-freakinq-thinqs a common Bus Station! Nat even a rail station.. A friqqin' Bus Station! History 'll surely remember u sir.