The Lekki Concession Company Limited has announced an upward review of toll fees at Lekki toll gate and Ikoyi link bridge effective February 1.
The LCC said 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.
The company said it took the decision following an “extensive consultations held with stakeholders in the Eti-Osa/Lekki-Epe Expressway of Lagos State.”
In a statement on Monday, the 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.
LCC said with the increase in toll tariffs, commercial transport buses and motorcycles plying the Lekki-Ajah axis will now pay N100 instead of N80 they paid previously. Those with e-tag will pay N90.
Saloon cars and tricycles will now pay N200 from N120 but N180 with e-tag; SUVs, mini-vans, light pick-up trucks will pay N400 and N360 with e-tag; non-commercial buses with maximum capacity of 26 seats, N1000 and N900 with e-tag; and motorcycles with 200cc capacity and above will pay N200 and N180 with e-tag.
Detailing the new development, 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.”
In the release, the LCC said “many of the consulted 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 in Eti-Osa Local Government Area consented to the new decision.
“The aforementioned stakeholders all 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.”
The Lagos State government initially halted the proposed The Lagos State government initially halted the proposed tariff hike on Lekki-Epe Expressway and Lekki-Ikoyi Link Bridge by LCC in December 5, 2017.
The tariff, which was increased by between 20 and 90 per cent, had been billed to become effective on November 8.