· Says reopening will boost investors’ confidence
Lagos State Transportation Commissioner Dr. Frederic Oladeinde has made a case for the reopening of tolling on the Lekki-Ikoyi Link Bridge, destroyed and shut down since October 2020.
The operator of the Lekki-Ikoyi Link Bridge Toll Plaza – the Lekki Concession Company Limited (LCC) has expressed readiness to resume tolling on the bridge.
The company had suspended operations at the bridge and the Lekki Toll Plaza after unarmed EndSARS protesters were attacked at the Lekki Toll plaza on October 20, 2020.
The government had at a meeting with residents and stakeholders announced an April 1, 2022 deadline to resume operation. It however had to shift ground upon further consultation with the stakeholders, fixing April 15, as the new take-off date.
Oladeinde speaking with journalists however said the government would continue to consult with the stakeholders as reopening the toll plaza is in the overall interest of all.
He said the reopening would help protect businesses.
His response came on the heels of reactions by residents living along the Lekki corridor who on Tuesday, urged the government to put its decision to have the Lekki-Ikoyi Toll plaza reopened on April 15, on hold, until all issues relating to the reopening are resolved..
Oladeinde said the government would not back down on reopening the Toll gate because it would spell doom for the public private partnership (PPP) which has been helping the government in the provision of critical infrastructure.
He said: “I know a lot of Lagosians are unhappy that the Lagos State Government is taking steps to reopen the bridge toll plaza, but we need to know that we are doing this in the best interest of all parties, including investors, who have always requested we guarantee the safety of their investment. We should not forget that the plaza is somebody’s business and it has been in jeopardy since it was burnt and shut down 18 months ago.”
He said the government may find it impossible to attract local and foreign investors if it cannot continue to guarantee the safety of businesses and investor’s confidence in our state will sag. “A number of investors approaching the government with the intention of partnership for the provision of critical infrastructure are looking at us and would want assurance that their investment is safe and secured. They would take their investment away if we cannot give them that guarantee and secure their business and investments,” Oladeinde said.
The Commissioner noted that since the government cannot do it alone and would continue to rely on the private sector to provide for the citizens, it is important to ensure that the private sector as a critical stakeholder must have their investment protected.
He said it would be unfair if the toll is stopped as the investor would not be able to recoup their investment which was constructed on the Build, Own, Operate and Transfer (BOOT) platform.
He said if citizens continue to resist developments in the state, it would be difficult for the government to achieve any meaningful development in any area, as investors would be wary of bringing their money to a government that cannot protect their interest.
He therefore urged the citizens to show more understanding and support for the government and see its intention to reopen the Toll Gate as an altruistic move to protect investors who as residents also have a stake in the overall development and healthy position of the state.
