The Lekki Concession Company Limited (LCC) has announced a review in toll tariffs at the Admiralty Circle Toll Plaza and the Lekki-Ikoyi Link Bridge Toll Plaza with effect from Thursday, February 1, 2018.
According to a press statement made available to the media on Thursday, the toll fare increase is as a result of current economic and business realities that have adversely increased the cost of operations and maintenance of the company’s loan obligations.
Managing Director, LCC, Mohammed Hassan, noted that the feedback and recommendations received during the series of consultations held in December 2017 with stakeholders in Eti-Osa Local Government area and its environs considerably influenced the new toll fares to be paid by motorists plying the Expressway and the Link Bridge.
Governor Akinwunmi Ambode suspended an earlier increase scheduled to take off on November 8, 2017 following widespread protest by Lagosians.
The LCC was forced to withdraw a statement announcing another increase planned for January 1 because of the crippling fuel scarcity experienced across the country during the Christmas holiday.
Justifying the new increase, Mr. Hassan said: “Since the commencement of tolling in December 2011, the toll tariffs had remained the same despite the continuous increase in the cost of operations to ensure that the toll plazas and the road infrastructure are well maintained. The toll review has also become necessary to enable the company meet its loan obligations to its local and foreign lenders, considering the fact that foreign exchange rates have continued to increase astronomically in the last couple of years. LCC cannot continue to operate or provide the services required from us if we do not review the toll tariffs”.
The company said many stakeholders including traditional rulers and community leaders, residents’ associations and youth groups, Eti-Osa Local Government officials, members of the media as well as members of the National Union of Road Transport Workers (NURTW) in Eti-Osa Local Government Area agreed that there was a need for constant upgrade of road facilities, as the Eti-Osa/Lekki-Epe corridor was rapidly becoming an international economic hub for investors.