Lekki Concession Company Limited (LCC) will commence the increase of toll tariffs at the Admiralty Circle Toll Plaza on Lekki-Epe Expressway and the Lekki-Ikoyi Link Bridge Toll Plaza with effect from Thursday, February 1.
The Managing Director, LCC, Mr. Mohammed Hassan made this disclosure in a statement that the upward review followed “extensive consultations held with stakeholders in the Eti-Osa/Lekki-Epe Expressway of Lagos State.
According to the statement, N100 would be paid by any driver of a mini commuter bus using the Lekki-Epe toll plaza, which is an increase of N20 over the N80 currently being charged.This agreement has been reached with the drivers’ union during the consultations.
According to Hassan, “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 to 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.
“The LCC cannot continue to operate or provide the services required from us if we do not review the toll tariffs.”
You will recall that the Lekki Concession Company (LCC) , which is in charge of the Lekki toll plaza and the Lekki- Ikoyi Link Bridge toll plaza notified users of an increase in toll charges for both plazas which would have taken effect from Wednesday November 8 2017.
But the Lagos State Government in a press release signed by Steve Ayorinde, the Commissioner for Information & Strategy in a swift response instructed the Lekki Concession Company (LCC) to suspend any form of tariff hike on the Lekki-Epe Expressway and Lekki-Ikoyi link bridge by the Lekki Concession Company (LCC).
The Lekki Concession Company (LCC) Limited was a Special Purpose Vehicle set up By ARM specifically to execute the Lekki Toll Road Concession Project. The Lagos State government however, bought off the concession in 2013.