Transport operators has declared that Nigeria’s public transport sector recorded an estimated loss of N200 billion within three months as a result of the lockdowns imposed to halt the spread of the novel coronavirus pandemic.
The National President Public Transport Owners of Nigeria Association (PTONA), Isaac Uhunmwagho made the revelation during a press briefing in Lagos yesterday while urging government to lift inter-state lockdown as soon as possible.
According to Uhunmwagho, inter-state transportation is the economy’s engine room. He stated further that the sum of N50 billion, N120 billion and N200 billion were lost in the first four weeks, eight weeks and 12 weeks while 100, 250 and 400 lives were lost respectively during that time.
The PTONA President made it known that 10 per cent, 25 per cent and 35 per cent of businesses shut down in the first four, eight and twelve weeks.
He said: “We tried to estimate recently what the financial losses to transport owners/operators might be after 10 weeks. The figures that we were seeing were in the region of N200bn.
“Inability to continue paying salaries to staff has been the plight of many transporters, as the funds are no longer there.
“Thousands of vehicles have been parked redundant for almost three months. The cost of restoration of these vehicles to sound condition will be millions of naira,” he said.
He added that many of the parked vehicles might no longer be reliable as they had been parked for a long time and expressed fears that many transporters who operate on rented premises might find it difficult to continue operating on the premises.
He said: “Vehicles were never designed to be left idle, and even if they may restart, numerous mechanical, electrical and system faults are bound to arise, and the transport owners have very little funds left to meet up with these challenges.”
“If a vehicle takes 50 per cent of passengers, simple arithmetic will dictate that the transport fare will have to double.
“Government needs to financially aid transport sector such that the transport owners do not have to transfer the entire burden onto the poor hapless Nigerians who are already very weak financially because of all the effects of COVID-19.”
