Fashola re-introduces toll on Lekki-Epe road

As part of effort to meet the 2012 revenue target, Lagos State governor, Mr Babatunde Fashola, has re-introduced toll on Lekki-Epe Expressway, saying that government lost N4 billion for failing to collect the toll in 2011.He made this pronouncement at the presentation of the 2012 budget to the state House of Assembly, adding that the N4billion could have been used to provide other developmental projects across the state.The government stopped the plan to collect toll on the road, following series of unrest and threat by the residents who described the idea as exploitation by the state government.According to the governor, the concessionaire, Lekki Concession Company Limited (LCC), who financed the project will reserve the right to announce the new take-off of the toll which was earlier scheduled to commence on January 3, 2011 before the indefinite suspension.Fashola said: 'The politically motivated resistance to the commencement of toll collection on the Eti-Osa, Lekki-Epe Expressway means that the government had to part with N4billion for year 2011 which could have been used to provide more schools, inner roads, hospitals and social needs in Eti-Osa, Ibeju-Lekki and Epe areas. This decision was sensible and necessary in order to maintain much needed and growing investor confidence in the Lagos economy, in order to maintain our credit rating and reduce our credit risk. It was critical to maintaining the stream of emerging investments required to create business opportunity and jobs for young people.''Regrettably however, our financial realities cannot sustain such funding to the detriment of other developments that are crying out for funding in other parts of the state.
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