The Lagos state government has temporarily halted the proposed toll hike on the Lekki-Epe Expressway and the Lekki-Ikoyi link bridge. The 49-kilometre Lekki-Epe corridor is being managed by the Lekki Concession Company, a purpose vehicle representing investors in the rebuilt road.
Steve Ayorinde, the state’s commissioner for information, said the order was to allow “stakeholders” complete “necessary consultations”.
“The Lagos State government hereby informs the general public that the said tariff hike has now been put on hold as the necessary consultations with stakeholders are yet to be concluded”, the statement said.
The government stated further that “while government recognises the need for periodic review of tariffs and any other levies appertaining to road infrastructure maintenance in the state, the public and critical stakeholders as the ultimate beneficiaries of such facilities must always be carried along at all times.”
Newsbreak.ng remembers that the Lagos State House of Assembly, in August 2013, approved a supplementary budget of N7.5billion for the buy-back of the LCC concession rights on the road. The state, at the time, took the decision to stop the LCC from increasing the toll from N120 to N144.
Ade Ipaye and Ayo Gbeleyi, then commissioners for Justice, and Finance in the state respectively, explained in a statement that the buy-back will enable “the Government to take full control over the determination of the toll rates in order to continue to make it affordable for road users.”
The LCC is expected to handover the road to the state in 2038, when its 30-year Build, Operate and Transfer agreement on the road will expire.