Primero Transport Lost N100 Million as BRT Buses Get Burnt Following #LekkiTollGateMassacre

Among the growing list of companies that have been directly affected negatively by the #EndSARS crisis in Nigeria is Primero Transport Limited. Just yesterday, following Tuesday night’s massacre at Lekki Toll Gate, some busses belonging to the company were set ablaze by angry Lagosians.

The company has now confirmed that it has lost as much as N100 million since the protests began. The News Agency of Nigeria (NAN) quoted a spokesman for the company to have disclosed this.

“We are hoping something better will come out of the situation because, presently, the situation has impacted negatively on our business in terms of revenue generation. We have lost over N100 million in the last six days but we decided to stop operations to avoid damage to our vehicles and also for the safety of commuters as an organization. We value our customers more importantly; that is why we stopped operation due to the volatility of the state especially in Ikorodu. If you listen to the news this morning, you will discover that people cannot travel from Ikorodu to any part of Lagos,” said Mutiu Yekeen, Primero’s Head of Corporate Communications.

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As you can see from the quotation above, Primero’s losses over the past six days were calculated based on suspended operations. The company has not yet calculated the costs of the damages caused by the hoodlums who burnt many BRT buses on Wednesday. Unfortunately, what ended up happening on Wednesday was exactly what Primero Transport was trying to avoid in the first place when it suspended operations last week.

Why did Hoodlums Attack BRT Buses?

Following Tuesday night’s massacre of peaceful protesters at the Lekki Toll Gate by Nigerian soldiers, some angry Lagosians went on rampage the following day. The rampaging Lagosians (now described as “hoodlums”, specifically attacked properties either belonging to the state government or believed to be owned by politicians. Unfortunately, Primary Transport Services was the perfect target.

The company (i.e., Primary Transport Services Limited) is believed to be partly owned by Lagos’ political godfather and former governor, Bola Ahmed Tinubu. Business Elites Africa understands that Primero’s current Chief Executive Officer, Fola Tinubu, is a direct relative of Bola Ahmed Tinubu.

It should be noted that in a 2019 interview with Nairametrics, Fola Tinubu acknowledged his relationship with Bola Ahmed Tinubu but dispelled speculations that the company is owned by the former governor.