PRESS RELEASE
LCC BUY OUT IS IN THE BEST INTEREST OF LAGOSIANS -
HAMZAT
Lagosians
will be the ultimate beneficiary of the proposed buy back of the concession
given in Y2006 by the Lagos State Government to the LCC for the expansion of
the Lekki Epe Expressway.
According to the State Commissioner for Works
and Infrastructure, Dr. Kadri Obafemi Hamzat, the plan currently being
negotiated with the company seeks to ensure that the State Economic Interest is
served.
Responding
to media question on the delay in the introduction of the second toll at the
Ministry’s End of Year Media Session, the Commissioner explained that negotiations
are still on-going and appropriate position resulting from the negotiations
will be published.
He
noted that part of the issues being considered is the payment structure
especially given the fact that credits were obtained by the Company in dollar
terms while toll is being collected in Naira; a situation which implies that
fluctuations in exchange rate will affect the Company’s remittances and
repayment plans.
Dr.
Hamzat futher said a decision is yet to be taken by the State Government on the
second toll but that government has so far resisted any proposal to increase
the amount payable as toll.
He
also noted that the various projects of the State government, especially road projects
are sometimes delayed through resistance by some people through court actions
and procedures when Federal Agencies are involved.
Citing
the examples of pedestrian bridge at the Cement Bus Stop, the Ago Palace Way
and Ipaja Ayobo Road, Hamzat explained that court actions by owners of
properties affected by the project have delayed their completion.
On
the Ipaja Ayobo, the Commissioner said obtaining approval for relocation from
NNPC, Federal Ministry of Works and PHCN all of which had facilities on the
road meant the time envisaged changed.
He
also noted that relocation of services in built-up areas often put significant
strain on project cost. He added that PHCN’s Pylons are difficult to relocate
as is the case with the Ayobo road. He assured that the project will surely be
delivered soonest.
While
also stating that the completion of Ago-Palace Way, Meiran Road and Egbe-Liasu Road
have been awarded to companies already engaged in their previous phases, Dr.
Hamzat assured that the State Government is committed to completing all
on-going projects rather than commencing new ones in the current year.
He
also stated that there was no discrimination against indigenous contractors in
the State Government award of its contract. He said the only condition for
award is performance.
He
commended the performance of Consteng Nigeria Limited for the realization of
the Adisa Ajibulu Road and Bridge project originally awarded to Moreno but terminated
for non performance.
The Commissioner further urged the people
affected by the construction of drainage channels along the Ejigbo road to bear
with the State Government saying that the need for a proper drainage cannot by
overemphasized.
He stated that as a State 2 metres below sea
level drainage must be made to specification so as to properly drain the roads.
Sgd:
PR
Unit
Ministry
of Works and Infrastructure
07051057777.
