This Is Lagos

August 9, 2010

Lekki-Epe Road: LCC to generate N280 bn in 30 years

By Clifford Ndujihe

WHEN the 49.4 kilometre Lekki-Epe Expressway becomes fully operational, the managers of the road, Lekki Concession Company, LCC, would be raking in at least N25.5 million a day, in tolls.

In its users’ guide published last week, the company estimates that 85,000 vehicles will ply the route daily. There will be three toll plazas within a distance of 24 kilometres wherein lies the major settlements on that axis of Lagos. And so with the cheapest toll being N100, the company will generate at least N25.5 million a day; N765 million a month; N 9.31 billion a year; and N279.23 billion in 30 years that the concession will last.

This excludes money that will be generated from a new road along the 49.4 kilometre highway and a 20_kilometre Coastal Road that will also be tolled.

The total project cost is estimated at N105 billion.
However, LCC Managing Director, Mr. Opuiyo Oforiokuma, said users would get value for their money and “optimum utility out of their road experience.”

 According to him, road users would benefit from improved convenience, journey times and safety, in comparison to the situation subsisting before the LCC’s concession.

He said the LCC would maintain the road throughout the concession term, provide sustainable solutions to the challenges brought about by historic heavy traffic congestion along the Lekki-Epe axis and hand over the road in an excellent condition to the Lagos State Government after the 30-year concession.

Oforiokuma also promised that the LCC would ensure among others:
•Provision of continuous customer service and support in the event of vehicle breakdown.
•Early detection and removal of foreign objects and other obstructions from the carriageway.
•Response to accidents, emergencies, and other road incidents, to secure the scene, render the road safe for road users, and restore traffic flow.
•Maintenance of appropriate traffic and information signage along the axis, and
•Route patrol services.