According to Reporters, Hassan said the old charges were no longer sustainable as a result of the
Hassan who did not state the new charges, said in the statement;
“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.
“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”.
Hassan said many of the stakeholders consulted, including traditional rulers and community leaders, residents’ associations and youth groups, members of the National Union of Road Transport Workers (NURTW), 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.
He urged motorists to take advantage of the electronic platforms by registering for e-Tag to enable them enjoy discounted passages and faster throughput at the plazas, adding that commercial buses would enjoy discounted passages such that transport fares will not be hiked as a result of the reviewed tariff.
-gistmania
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