Fares paid at the tolls on Lekki-Ikoyi link bridge and Lekki-Epe Expressway will be increased come February 1, the Lekki Concession Company (LCC) has reportedly revealed.
According to Punch, this was made known by the Managing Director, Mohammed Hassan, who said the increase is allowing “extensive consultations held with stakeholders in the Eti-Osa/Lekki-Epe Expressway of Lagos State.”
LCC had back in November 2017, shared circulars informing motorists of a planned increase, but had suspended the move following backlash.
Hassan said the increase is to enable the company meet loan obligations. He 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 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.