• Business - Companies
  • Updated: October 23, 2020

Primero Transport Loses N100m After Bus Conveyed Thugs To Attack ENDSARS Protesters

Primero Transport Loses N100m After Bus Conveyed Thugs To At

Primero Transport Services (PTS) Limited, the managers of the Lagos State Bus Rapid Transport (BRT), has disclosed that about 100 million naira was lost during the ENDSARS protest in Lagos which lasted for over two weeks. The company joins several private companies that recorded revenue and property loss.

The revenue loss by Primero was revealed by the company's head of corporate communications, Mutiu Yekeen, who said NGN100 million was lost within six days, placing the timeframe between October 16 and October 21, 2020.

Government Also Contributed To Loss Of Revenue

Aside from the ENDSARS protest knocking Primero Transport's revenue down, the curfew declared by the Lagos State Government also contributed to the loss, as the transportation company couldn't operate during the curfew period.

While speaking to NAN about the financial impact of the protest, Yekeen said, “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,” he said.

Yekeen further stated that, “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 organisation.

“We value our customers more importantly; that is why we stopped operation due to 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.”

How Primero Used Sterling Bank-funded Bus To Tranport Thugs To Attack Protesters

It is left to be seen who authorised the transportation, but Primero transported thugs with its Sterling Bank-funded bus to attack ENDSARS protesters at Alausa while the protest was heated. The bus converted close to twenty thugs carrying harmful weapons.

Thugs could be seen jumping from the bus window and alighting from the bus, chasing after peaceful protesters in Alausa.

Primero Isn't The Only Company Losing Revenue

Aside from Primero counting its losses to the protest and curfew, Lekki Concession Company Limited, the managers of the Lekki Tollgate - where the soldiers shot peaceful protesters - also reported NGN234 million revenue loss during the over two weeks protest.

READ ALSO: MTN Nigeria Shuts down Amidst Widespread Burning Of Companies

AllNews projected that the company will lose more revenue in October, as the Lekki Tollgate was set ablaze following the Lekki Massacre. Monthly, the company record about NGN300 million, and with the tollgate burnt, the revenue can't be generated this month.

Also, other companies were burned amidst the protest which was hijacked by the thugs used to disperse the protesters. Thugs went on to burn companies reportedly owned by former Lagos State Governor, Bola Tinubu - the companies included media organisation, TVC and The Nation Newspapers.

Also, Oriental Hotel was partly destroyed by the thugs.

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