Lekki Toll Road Concession, the flagship private sector-led road project being implemented under a Public Private Partnership with Lagos State Government, is making steady progress. Barring unforeseen delays, the rehabilitation and upgrade of the 49.4 kilometre Lekki-Epe Expressway is expected to be completed before the end of 2010, explained Opuiyo Oforiokuma, CEO of Lekki Concession Company, at a press conference held Monday April 26, 2010 with the media to correct misinformation circulating about the commencement of tolling on 1st May, 2010.
"I am seizing the opportunity to reaffirm what I explained to you during our last press conference about the timing of the commencement of tolling on Lekki-Epe Expressway. This is important to help dispel some of the false rumours circulating around about what LCC's plans are, but also to help allay the genuine fears and uncertainties that we believe exist in some peoples' minds about the forthcoming toll charges," added Mr. Oforiokuma. On the commencement of tolling, Oforiokuma stated "Be advised that while LCC has publicly communicated our expectations that tolling is likely to commence in May, LCC has not at anytime publicly communicated any specific date, e.g., 1st May, as some people have been claiming is the date that we will commence tolling. With 1st May barely 6 days from now, I can categorically state that LCC will not be commencing tolling on 1st May." He further emphasised "As we have already previously explained publicly, including through the Media (newspapers and TV), LCC's entitlement to toll is governed by the achievement of defined milestones, and follows a structured process. This is in line with international norms and best practice for infrastructure projects such as ours. The main steps in the process include the substantial completion of specific Road Sections, such as in the case of the first Toll Plaza, the delivery of Km 0-6 of the carriageway (from Falomo Bridge Loop/Ozumba Mbadiwe Rd intersection to before 2nd Roundabout); the expansion of ExxonMobil Bridge from 4 to 6 lanes; and construction of the first Toll Plaza ("Admiralty Circle Plaza"), including various features such as roundabouts; drainage culverts and open drains; pedestrian walkways; traffic lights; and street lights; amongst others, as well as various features that you do not now see because they are located below ground (e.g., cable ducts)".
The LCC MD reiterated that when LCC's Construction Contractor, Hitech, substantially completes the works to LCC's satisfaction, they will then apply to the Independent Engineer for certification. "The Independent Engineer is a reputable international Engineering Consultancy firm, with experience in infrastructure projects such as ours. Certification is not automatic - the Independent Engineer will satisfy himself that the new road infrastructure is fit for purpose and safe for road users to use," Mr. Oforiokuma added "Notification of Tolls will occur only after independent certification has been achieved. LCC can then only commence tolling after having given LASG not less than 14 days notice of the tolls".
He concluded; "Subject to weather and other conditions, it is now likely that our entitlement to commence tolling will not crystallise until the latter part of May or the early part of June. Even when our entitlement to commence tolling has crystallized, we will still make final internal judgments about our readiness to commence tolling, before we actually 'go live' ".
On repeated requests for information on toll charges, Mr. Oforiokuma said "We appreciate that everyone is eager to know what the actual toll tariffs will be, and that the fact that we have not announced them yet is not only causing some uncertainty in peoples' minds, but is also encouraging unhelpful gossip and speculation about LCC's motives and about what the toll tariffs will be. Rest assured that LCC does not have any secret nefarious toll agenda as some people would have you believe. Rather, we are using every opportunity available to us to fine-tune the pricing and incentives structure, taking account of key variables such as inflation, interest rates, traffic volumes, etc, so that we can ensure that the actual tolls that we charge are affordable and represent value for money to road users. We believe that they will be. Details of the toll pricing structure, incentives and mechanisms will be provided through various Media in coming weeks, as well as through presentation visits to Housing Estates, Corporate Organizations, Community Development Associations, and other establishments".
The landmark Lekki-Epe Expressway project is a flagship Public Private Partnership initiative which is being driven by the Lekki Concession Company on a 30-year, build, operate and transfer (BOT) model. The approximately, 50-Kilometer road will be fully rehabilitated and upgraded, and thereafter operated and managed by LCC through out this 30 year period. 20 Kilometres of Coastal Road is also expected to be constructed as part of the project. The initiative is financed by several offshore and local financial institutions and has attracted considerable international interest in the light of its magnitude and novelty. The entire infrastructure will be transferred back to Lagos State at the expiration of the 30- year concession period.
For more information, please contact
Charles Imevbore
Head, Corporate Affairs and Communications
LCC
01 271 9700