Residents in Lekki and environs are lamenting the emerging 100% hike payable for the use of the two access roads to and fro Lekki residential and business axis in Lagos State.
Recall that a leaflet circulated across Lekki and environs indicating hike in tolls payable for the use of the two access roads, effective from November 8, 2017.
Part of the leaflet red in parts: “Change in toll tariff”.
“Kindly be informed that effective November 8th, 2017, LCC’s toll tariff will be adjusted for both the Lekki-Epe Expressway and Lekki-Ikoyi Link Bridge toll Plazas as shown below:
“Admiralty Circle Plaza new tariff; Motorcylces-N100, Salon cars and tricycles-N200, SUVs-N250, Light trucks & 2 axle buses-N400, heavy duty trucks/buses with 2 or more heavy axles- N1,000, and Commercial Danfo Mini buses- N150.
“Link Bridge New tariff: Motorcycles-N200, Salon cars- N300, Mini vans/SUVs/light trucks-N400, and Light trucks & 2 axle buses-N1, 000.
“Note: Extra Fare/no Charge policy will be strictly enforced at the exact fare lanes at both plazas;” end of notice.
Several motorists who saw the leaflet expressed anger and frustrations for either living in Lekki axis of the state or working in the area. Some of them said they are not ready to comply because no clear or convincing reasons were given for the sudden hike at a time the economy is not salutary with citizens.
It would be recalled that Lekki Concession Company Limited (LCC), an initiative of ARM Group of Companies is a Special Purpose Vehicle (SPV) set up specifically to execute the Lekki Toll Road Concession Project, while the Link Bridge Plaza was developed by the state government to serve as alternative access link to Lekki and environs.
However, the state government during the administration of former Governor Babatunde Fashola sacked the original investors and paid them off to return the investment back to Lagos State Government.
This pioneering project is mandated under a 30-year Concession Agreement for the upgrade, expansion and maintenance of approximately 50km of the Lekki-Epe Expressway (Phase I), and construction of approximately 20km of the Coastal Road (Phase II) on the Lekki Peninsular. The project is designed to deliver essential road infrastructure and services along the Lekki Peninsular of Lagos.
Lekki Toll Road Concession is a Public Private Partnership (PPP) scheme, and uses the Build-Operate-Transfer (BOT) model of Infrastructure delivery, but unfortunately, the state government failed to allow the concessionaire operate for 30 years before transferring to government by paying off the core investors and becoming the owner-operator.
Telephone lines of top corporate affairs officials of the company were put off throughout weekend.