Tsiya:

It is a letter written by a Professor of a school that caters for business men, and what should you expect from him other than stuff like this.

You have to understand, profit by private organisation should be not the fundamental priority of government.

Renogotiation of terms and conditions of contracts and loans, is not a new thing. businesses do that on daily basis that is why they have legal departments.

Businesses invest in risk. LCC invested in this project with the hope of political backing, that is the risk they should take. Making foreign investors rich at the detriment of the masses should not be the priority of government.

No, no, no. The letter was written by a group of Danish pension funds to the Spanish government but was posted by a Spanish Professor on his blog. Please see another article on the same topic from Bloomberg. The full link is here http://www.businessweek.com/news/2010-06-24/danish-pension-funds-oppose-spanish-solar-power-cuts-update1-.html



June 24 (Bloomberg) -- Spain’s plans to reduce the revenue of solar-power plants may deter investors from holding any securities backed by the Spanish state, three Danish pension funds said in a letter to the government.

The move may lead to a “complete and prolonged” freeze in renewable-energy investment in Spain, according to AP Pension, PensionDanmark and PBU. The funds manage more than 30 billion euros ($37 billion), including Spanish solar investments, for 700,000 clients, the letter to Finance Minister Elena Salgado and Industry Minister Miguel Sebastian said.

“We would view a retroactive reduction in solar tariffs as a failure of the Spanish government to abide by its commitments,” according to a copy of the letter provided to Bloomberg. “It would not be prudent for the government to enact such retroactive measures.”

Solar-energy executives said Sebastian told them this week he intends to cut the subsidized revenue that photovoltaic plants earn by 30 percent as part of a plan to reduce the cost of power. The government is looking to boost the competitiveness of Spanish industry and curb public liabilities as it bids to reignite the economy after the worst recession in 60 years.

After all is said and done, I can understand why commuters are up in arms but the danger of a U turn at this stage as I have said is loss of investor confidence and a lack of trust in our government. A better solution may well be for the government to leave things the way they are and build an alternative single lane road from tax revenues or royalties received from the concession.

kulutempa:


After all is said and done, I can understand why commuters are up in arms but the danger of a U turn at this stage as I have said is loss of investor confidence and a lack of trust in our government. A better solution may well be for the government to leave things the way they are and build an alternative single lane road from tax revenues or royalties received from the concession.

You have to decide what's best; hurt feelings from a few investors (and i sincerely think you're exaggerating the problem) or an aggrieved populace that rightly should be the immediate concern of the State Governor.

People are complaining of the tolls on the road and you think a better solution is to keep the unpopular tollgates in place while working on a new lane that would take several years to complete?
So as a State Governor, you'd tell your citizens "Hey, we don't wanna scare off these investors. Manage the thing that has been causing you so much grief for a couple of years while we build an alternative route"?

texazzpete:

You have to decide what's best; hurt feelings from a few investors (and i sincerely think you're exaggerating the problem) or an aggrieved populace that rightly should be the immediate concern of the State Governor.

People are complaining of the tolls on the road and you think a better solution is to keep the unpopular tollgates in place while working on a new lane that would take several years to complete?
So as a State Governor, you'd tell your citizens "Hey, we don't wanna scare off these investors. Manage the thing that has been causing you so much grief for a couple of years while we build an alternative route"?

I am not exaggerating anything. All I have done is to post a letter that shows what usually happens when foreign investors feel that they are being shortchanged, after contracts have been signed sealed and delivered. What I am also saying is that the government should have sought the viewpoints of the various interest groups before the contract was signed. Of course the easiest thing to do will be to change the contract terms but you should not then complain if in a few years time you get no takers for much needed investments in your country, or if they demand tougher terms to compensate for the higher investment risk. You are quite right though: you have to decide what you think is best.

The Govt will definitely be paying the company throughout the period of Toll Collection suspension so there is no financial breach per se on the contract

kulutempa:

No, no, no.  The letter was written by a group of Danish pension funds to the Spanish government but was posted by a Spanish Professor on his blog.  Please see another article on the same topic from Bloomberg.  The full link is here  http://www.businessweek.com/news/2010-06-24/danish-pension-funds-oppose-spanish-solar-power-cuts-update1-.html



June 24 (Bloomberg) -- Spain’s plans to reduce the revenue of solar-power plants may deter investors from holding any securities backed by the Spanish state, three Danish pension funds said in a letter to the government.

The move may lead to a “complete and prolonged” freeze in renewable-energy investment in Spain, according to AP Pension, PensionDanmark and PBU. The funds manage more than 30 billion euros ($37 billion), including Spanish solar investments, for 700,000 clients, the letter to Finance Minister Elena Salgado and Industry Minister Miguel Sebastian said.

“We would view a retroactive reduction in solar tariffs as a failure of the Spanish government to abide by its commitments,” according to a copy of the letter provided to Bloomberg. “It would not be prudent for the government to enact such retroactive measures.”

Solar-energy executives said Sebastian told them this week he intends to cut the subsidized revenue that photovoltaic plants earn by 30 percent as part of a plan to reduce the cost of power. The government is looking to boost the competitiveness of Spanish industry and curb public liabilities as it bids to reignite the economy after the worst recession in 60 years.

After all is said and done, I can understand why commuters are up in arms but the danger of a U turn at this stage as I have said is loss of investor confidence and a lack of trust in our government.   A better solution may well be for the government to leave things the way they are and build an alternative single lane road from tax revenues or royalties received from the concession.

The problem is you are looking at through the lens of investors. You are not looking at it through the lens of the people that vote for the governments. Goverments are not voted to gain the trust of investors confidence. Governments are voted to serve the people. If private investors decide to invests in government projects, they should carry out risk assessment, and that should included the political repercussion and acceptance of their investment by the people. If the people refuse to pay, then it is a risk that they have to take.

This is not the kind of investment we want, if this is what will boost investors confidence and attract investors, then we don't need them. Enslaving and improsing people for 3 decades just to secure the investments of few families is not the kind of private investment we want.

but nothing is built for free. Lagos only has a budget of 2 billion USD, and has a population of 15 million +. there is no way the government can build anything for this large of a population, with that kind of funds. That is why you see many PPP (Public Private Partnership) projects around lagos. such as the 3.6 billion USD lekki free tarde zone, which is worth more than lagos's yearly budget, and the light rail, BRT, Power,roads,bridges etc. all are built through the PPP process and all have to make a profit. So what makes the Lekki expressway any different? they still have to make a profit.

and on the discussion of the coastal road. the coast highway is part of lagos's outer ring road, which is a different project for a different time. the coastal road will circle around the perimeter of lagos (city) and will have a suspension bridge that will connect it to the Apapa area were the road will continue. but that a different project for a different time.

Tsiya:

The problem is you are looking at through the lens of investors. You are not looking at it through the lens of the people that vote for the governments. Goverments are not voted to gain the trust of investors confidence. Governments are voted to serve the people. If private investors decide to invests in government projects, they should carry out risk assessment, and that should included the political repercussion and acceptance of their investment by the people. If the people refuse to pay, then it is a risk that they have to take.

This is not the kind of investment we want, if this is what will boost investors confidence and attract investors, then we don't need them. Enslaving and improsing people for 3 decades just to secure the investments of few families is not the kind of private investment we want.

Brilliant.  What you have just described is a perfect picture of the difference between Nigeria and countries like Malaysia, Singapore and South Africa.  They make their countries investor friendly and accommodating while we make ours a difficult terrain for investors.  Their politicians and leaders think and plan long term but ours cannot think beyond the next elections.   Is it any wonder why they are where they are, and we are where we are?

Pretty disappointed by the attitudes and posts of many here on this forum.

Obinoscopy:

The Govt will definitely be paying the company throughout the period of Toll Collection suspension so there is no financial breach per se on the contract

So the end result will be  that costs are spread across all of the Lagos taxpayer base rather than those who directly use it. Not really the best way to do it (for a variety of reasons), but so be it.

So long as the project goes through and the investors do not get burned and scared away, I'm relatively content.

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Party blames Fashola for loss of Ikorodu


The Lagos State chapter of the Democratic Peoples’ Alliance (DPA) on Wednesday described the Action Congress of Nigeria (ACN)’s loss of Ikorodu Constituency 2 to the People’s Democratic Party (PDP) as a vote-of-no-confidence passed by Lagosians on the regime of the Lagos State governor, Babatunde Fashola.

According to a press release by the party, the defeat of the Action Congress in the by-elections was no fluke.

“This government has failed to make people the centrepiece of its policies. Those who constitute the silent majority finally decided to speak through their votes in Ikorodu; and the message is loud and clear - Fashola has failed woefully to positively impact commoners’ lives,” the statement said.

The by-election was held on Thursday, December 23, to replace an ACN member of the State House of Assembly, who died in office.

The party explained that Ikorodu Town represented the typical rural settlement in Lagos, which had suffered utter neglect and deprivations at the hand of the Fashola government and that the ACN will suffer a similar fate should free and fair elections hold in Alimosho, Iju, Badagry, Epe, Lekki and other places. It said the PDP won because of the Lagos State government failed to provide good roads, drainages, potable water, and stable electricity among other things for the people of Ikorodu.

“In these past three years, [Mr] Fashola has concentrated projects and developments on metropolitan Lagos, to the neglect of other places. Projects have been massed on routes leading to and from Alausa the seat of government, the Ikeja Airport, and government houses in Ikeja GRA, Ikoyi, and Lagos Marina,” the DPA said.

According to the party, the result of the Ikorodu polls reflected the people’s irritation at the government’s demolition of houses and business places, without provisions for compensations and alternatives.

“The Ikorodu-Shagamu expressway remains impassable and a deathtrap; with many goods’ lorries and petroleum tankers ending up belly-up, with attendant loss of lives and possessions, when they try to ply that session,” it said.

Ikorodu flooding

Recalling floods that affected parts of Ikorodu Town withing the year, the DPA said the Mr Fashola’s government was yet to account for the N700 million President Goodluck Jonathan provided for victims of the disaster.

“Those in the refugee camp are today suffering utter neglect and deprivations; and many live in subhuman conditions. They don’t even know when they will return home and can as yet see no visible programme being put in place by government to prevent a reoccurrence,” the party said. “Moreover, this regime’s capital of friends is fast depleting, because it has spent its life span fighting, intimidating and victimising virtually everyone: Doctors, teachers, drivers, okada riders (commercial motorcyclists), traders, business people, market women, street traders, the unemployed.”

Losing Ikorodu

The candidate of the Peoples Democratic Party in the Ikorodu Constituency II Bye-election, Olugbenga Akinwale Oshin, won the election with a total vote of 3,438, which was 416 votes higher than the total vote of the Action Congress of Nigeria’s candidate, Olusayo David Alagbe.

Kazeem Adeagbo, one of the PDP supporters who spoke to NEXT after the election result was announced, said the victory signals “Ikorodu’s salvation.”

“ACN is not popular in Ikorodu. They have no structure here and all they do is make noise. Now, we are beginning to save ourselves and the salvation will be completed in the next general election,” he said.

The loss had come as a shock to Can supporters.

“We are surprised,” said Femi Maribade, an ACN’s supporter, who attributed his party’s loss to “over confidence.” “Up till about four days ago, there was no noise from the PDP camp and we thought we will win easily,” he said.

Well Mr Genius did it occur to you that a lot of Lagosians earn less than $7.50 a day which is the minimum hourly wage in Texas? Your talking about less than a buck a day are you serious? Or are you that out of touch with reality, Are there not alternative routes to get to your location than getting on the Beltway/Sam Houston Tollway? Please tell me the alternative route to get to Lekki?And just so its clear im all for the toll just not at this exorbitant rates and only after the road is completed,

First, which of these Lagosians who earn under $7.50 a day also have cars and thus are plying that road frequently in their own sedan? Also, it isn't by force you use the road. There is an alternative route posted on the LCC website. And if the 120 naira is too much, carpool or take some sort of public transport.

This is a horrible move I must say. Lagos needs revenue from different sources. This toll collection could provide Lagos with some much needed revenue to help improve the road system in the city. I see nothing wrong with having a toll collection put in place. In addition, I have no problem with a new tax system that should be implemented in Nigeria either. As long as the funds are spent wisely.

jacobs123:

I will offer a few more information for those who think we are fighting a useless fight

Even though the road has been concessioned, the Lagos state government  (LASG) has actually committed N5 billion ($42 million) of tax payers to the project and this facts sits pretty on the website of Standard bank and Mr. Fashola said that much in one of his investor road shows in the city of Dubai.

5 billion loan, not gift, paid back over 20 years (dunno the interest rate though.) That and the concession is all that Lagos is spending. In 30 years the concession ends, Lagos State inherits the road free and clear. This to me seems a good way to build infrastructure w/o spending too much government money.

For people who don't know, Lagos State signed an Irrevocable Standing Payment Order (ISPO) authorizing the MoF to deduct at source from Lagos federal allocations the total projected revenue due to LCC over the thirty year tenor of the concession agreement in the event that Lagos defaults in the terms of the agreement. This is backed by sovereign debt instruments issued by the federal government (FEC) in July 2006 to the foreign banks financing this project. All LCC has to do to trigger the ISPO regime is to go to the foreign arbitrators for breach of contract.


Lagos State cannot unilaterally change the terms of the concession agreement without the cooperation of LCC. As a matter of fact a law was specifically passed by the Lagos House of Assembly to give legal teeth to the concession agreement to protect the foreign banks.

If Lagosians won't pay, Lagos State WILL PAY! If not, then the Federal Government WILL PAY!!!

Tsiya:

The problem is you are looking at through the lens of investors. You are not looking at it through the lens of the people that vote for the governments. Goverments are not voted to gain the trust of investors confidence. Governments are voted to serve the people. If private investors decide to invests in government projects, they should carry out risk assessment, and that should included the political repercussion and acceptance of their investment by the people. If the people refuse to pay, then it is a risk that they have to take.

This is not the kind of investment we want, if this is what will boost investors confidence and attract investors, then we don't need them. Enslaving and improsing people for 3 decades just to secure the investments of few families is not the kind of private investment we want.

Good Points. Your heart is the right place with thoughts like these.

I find it very sad that some are arguing against this suspension because they felt it will erode Investor confidence.

Are Private-Public investors not supposed to be accountable to the people?

Are businesses not supposed to be accountable to their customers too? If Walmart only cares about investors while spiting their customers they will be out of business in a New York minute.

This is essentially a public-works project. In serious democracies the people will be voting for or against a proposition or bond to decide it's fate.

Because we are in a hurry to embrace free market capitalism does not mean we should ignore accountability or totally ignore our citizens wishes -we already did that with Oil companies and it got us nowhere. I see the same parallels with these cries against Fashola's suspension of the toll.

Fashola did the right thing. He should speed up the completion of alternate routes for those who can't afford the toll before bringing it back.

Good politics and the well being of the community are as important as business investments if not more important.

Edited for clarity

Why should people pay for toll when they cant trust the government they have? its sounds like encouraging embezzlement down here, what has the government done for the common man, even if u find out the brains behind this fraudulent tactics, the LCC will belong to either Tinubu or his allies. Fashola is only doing this because of the election that is in focus believe me, once he wins the election, the fist thing he will do is commence the toll collection.

The truth is that al FAshola's policies is focussed on making life easier for the oppressors(the rich), while the poor are beign unjustly driven away from where they earn their token so it will be easier for the rich to pass through.

do we really need flower and christmas decoration when there are lots of damaged roads in Agege and Alimosho to mention a few among all the local governments. he has not really done a major project like constructing a much needed overhead bridge along Abule egba road or those around there doesnt deserve dividend of democracy too.

I am not anti Fashola but only a compassionate fellow who is not so selfish like you despite living in one of those commuinities where the so called dividend of democracy is felt.

The other day i was driving i wept when i saw the woman at ikeja that use to sell apple to me suddenly became purewater hawker because KAI seized and destroyed her goods.

so many market women displaced at Oshodi are now road sweepers in IKoyi and V.I etc.

The question is 'dont the poor deserve the brighter and rewarding future too'?

I know bunch of selfish oppressors will start insulting me, but remember we are only fortunate to be where we are and think about it that you could have been in those people's shoes too.

I believe there are better ways to govern with equality because as far as i am concern this government is bias,

I appeal to all my dudes right here to always extend a hand of helps to the needy, and God bless you as you do this,

I

GAR3TH:

but nothing is built for free. Lagos only has a budget of 2 billion USD, and has a population of 15 million +. there is no way the government can build anything for this large of a population, with that kind of funds. That is why you see many PPP (Public Private Partnership) projects around lagos. such as the 3.6 billion USD lekki free tarde zone, which is worth more than lagos's yearly budget, and the light rail, BRT, Power,roads,bridges etc. all are built through the PPP process and all have to make a profit. So what makes the Lekki expressway any different? they still have to make a profit.

@GAR3TH

This is not an issue of “nothing is built for free”, or the minuscule budget of Lagos, nor is it about the state’s teaming population. I wrote earlier that if indeed the state had not and would not provide an alternate route for motorists who do not wish to pay the toll, then it would amount to a concept in law known as “forced patronage”. I cannot speak for the law in Lagos, but in civilized societies that could be a ground for invalidating the contract.

I do not have anything against PPP. But I do have plenty against forced patronage and citizens have a right to protest forced patronage.

The Lekki FTZ you mentioned is not a municipal responsibility; providing passable roads is. No commercial interest is compelled to do business in the FTZ. It is a privilege for businesses that can afford to do so and meet the state’s guidelines for operating within the zone.

Pifa:

This is not an issue of “nothing is built for free”, or the minuscule budget of Lagos, nor is it about the state’s teaming population. I wrote earlier that if indeed the state had not and would not provide an alternate route for motorists who do not wish to pay the toll, then it would amount to a concept in law known as “forced patronage”. I cannot speak for the law in Lagos, but in civilized societies that could be a ground for invalidating the contract.

The website describes an alternative route:

Alternative Routes

Road users who do not wish to pay the tolls can avail themselves of alternative routes that will enable them bypass the Admiralty Circle Plaza but still return back onto the Eti-Osa Lekki Toll Road afterwards where they will continue to enjoy the benefits of the new road assets and the suite of services provided by LCC. See the diagram below. For example a road user travelling from Victoria Island to Lekki could turn right off the Eti-Osa Lekki Toll Road into Ligali Ayorinde Street take a left into Akinbolagbe Street turn right into Oba Oniru Road (driving by City of David Church) and continue to Oniru Market Road. At the end of Oniru Market Road a right turn takes you back onto the Eti-Osa Lekki Toll Road.

http://www.lcc.com.ng/News/NewsContent.aspx?newsid=27

Or is this route not functional?

kalokalo:

For people who don't know, Lagos State signed an Irrevocable Standing Payment Order (ISPO) authorizing the MoF to deduct at source from Lagos federal allocations the total projected revenue due to LCC over the thirty year tenor of the concession agreement in the event that Lagos defaults in the terms of the agreement. This is backed by sovereign debt instruments issued by the federal government (FEC) in July 2006 to the foreign banks financing this project. All LCC has to do to trigger the ISPO regime is to go to the foreign arbitrators for breach of contract.


Lagos State cannot unilaterally change the terms of the concession agreement without the cooperation of LCC. As a matter of fact a law was specifically passed by the Lagos House of Assembly to give legal teeth to the concession agreement to protect the foreign banks.

If Lagosians won't pay, Lagos State WILL PAY! If not, then the Federal Government WILL PAY!!!

 
 
I am glad you were able to clarify some of the legal angle of the contract. But the issue is not whether it was a legal contract or not; the issue is that the state has not provided alternate route(s) for those who cannot or wish not to pay the toll, thereby committing the citizenry to forced patronage.

^^ there are alternative routes, and if you want the government to build new alternative route, what money are they going to use? its going to be a PPP again.

eku_bear:

The website describes an alternative route:
http://www.lcc.com.ng/News/NewsContent.aspx?newsid=27

Or is this route not functional?

 
 
The complaint I've read is that the so-called alternate route is not passable. Residents in the area also complain that the concessionaire had fenced off the road in such a way that they had no access to the alternate routes. For them to reach any destination traversed by the toll road, they had to take the toll road. That’s holding them hostage to the commercial interest of the concessionaire.

How long have you been in California?

Its just wrong to toll the road without completing it. This agreement was signed when Tinubu was governor and is his work. If its true that Tinubu vetoed 90% of executive council decision to not accept the project its quite clear he has financial ties to LCC and is looking to milk Lagosians.  

If it was gov. Fashola that signed the agreement and was now somehow backing off, then I think the whole thing about investors running away would hold.  Investors will not run away from Lagos. All they have to do is make sure they have done their homework. Its not as if Fashola is breaching all the contracts between the state and private investors. This just happens to be an isolated case where many of the citizens of the state are against the amount being charged and the extent of the road that is complete.

I just want for Fashola to make sure that the worries of many Lagosians are taken care off.

This project is costing LCC appx $250 million or so.  With the 30 year concession period there is more than enough time for them to recoup their money and make a ton extra with the rate they are charging.

If they did their homework they would have added two lanes to both sides, if possible which would truly make it an expressway and built the alternate route.

kalokalo:

For people who don't know, Lagos State signed an Irrevocable Standing Payment Order (ISPO) authorizing the MoF to deduct at source from Lagos federal allocations the total projected revenue due to LCC over the thirty year tenor of the concession agreement in the event that Lagos defaults in the terms of the agreement. This is backed by sovereign debt instruments issued by the federal government (FEC) in July 2006 to the foreign banks financing this project. All LCC has to do to trigger the ISPO regime is to go to the foreign arbitrators for breach of contract.


Lagos State cannot unilaterally change the terms of the concession agreement without the cooperation of LCC. As a matter of fact a law was specifically passed by the Lagos House of Assembly to give legal teeth to the concession agreement to protect the foreign banks.

If Lagosians won't pay, Lagos State WILL PAY! If not, then the Federal Government WILL PAY!!!

 
   
If a contract like that were signed where I live, the politicians who signed it would be out of office by now. Ask Grey Davis, the former governor of California who was thrown out of office by a recall drive because he signed a contract that put California at the mercy of Enron and its impetuous upward drive in rates paid by California's utilities.

Can someone explain to me how exactly the alternate route is infeasible? It looks to me as if you can avoid paying the toll by exiting before you reach the toll @ Admiralty Circle Plaza.

Is Oniru Market Road blocked somehow, or both of the two routes leading to it?

@Pifa: 4.5 years now.

eku_bear:

First, which of these Lagosians who earn under $7.50 a day also have cars and thus are plying that road frequently in their own sedan? Also, it isn't by force you use the road. There is an alternative route posted on the LCC website. And if the 120 naira is too much, carpool or take some sort of public transport.

Well what sort of public transportation would you suggest? The efficient Metro/Danfo bus? Or is it the safe and swift Okada/Light rail, lol?People,work pay taxes  grovel and take whatever bs comes their way all so they can get a car (perhaps Naija used  heard of that?) Then the government comes with silly double taxes to all but  take that away with its short sightedness and greed, regardless of the percentage  the fact remains that CITIZENS of the state are negatively affected and im pretty sure they are not in the minority!Whats the average pay rate for a fresh graduate in Nigeria nowadays do you know (and im not talking oil,banks or telecoms) ? And as for car pooling yeah that's cool, assuming you get gas at all even for an unreasonable rate, then you don't get late dealing with early morning traffic. Get off your elitist high horse and listen to what every one is saying IF at all any toll should be imposed N120 is far from ideal the fact that you and your immediate community find it adequate does not mean it is ideal for the majority, people do not like it period .

trueword:

Its just wrong to toll the road without completing it. This agreement was signed when Tinubu was governor and is his work. If its true that Tinubu vetoed 90% of executive council decision to not accept the project its quite clear he has financial ties to LCC and is looking to milk Lagosians.  

If it was gov. Fashola that signed the agreement and was now somehow backing off, then I think the whole thing about investors running away would hold.  Investors will not run away from Lagos. All they have to do is make sure they have done their homework. Its not as if Fashola is breaching all the contracts between the state and private investors. This just happens to be an isolated case where many of the citizens of the state are against the amount being charged and the extent of the road that is complete.

I just want for Fashola to make sure that the worries of many Lagosians are taken care off.

This project is costing LCC appx $250 million or so.  With the 30 year concession period there is more than enough time for them to recoup their money and make a ton extra with the rate they are charging.

If they did their homework they would have added two lanes to both sides, if possible which would truly make it an expressway and built the alternate route.

I do not necessarily agree with you. At $250 million, it would cost them $22,831 dollars per day to operate those road. Take into consideration that there are no interest on the loans, inflation cost, etc. At that amount, charging at N120, they would need to have at least 28, 540 cars on the highway daily to cover just the fixed cost. Other cost accounted for has not been taken into consideration, people are complaining about N120, imagine if that is reduced that has not been accounted for. In other words, unless the road can take up to 2x that amount; up to 55,000 cars daily to make tons of money after the 30year period, then it's really not worth the hassle.

@Pifa: I'm not sure that the California model is the one to copy, at least as far as government goes. The state is politically unstable and fiscally unsound. I'm not much interested in staying here after I finish school.

Pifa:

 
   
If a contract like that were signed where I live, the politicians who signed it would be out of office by now. Ask Grey Davis, the former governor of California who was thrown out of office by a recall drive because he signed a contract that put California at the mercy of Enron and its impetuous upward drive in rates paid by California's utilities.
 
   

So you kicked out Grey Davis and replaced him with Arnold, the question now is, how great is Arnold with California almost bankrupt and one of the highest employment rate in America? Arnold did way way worse than Grey Davis, so why is he still in office? Please kill that noise.


Talking about Lagos state, sounds like you are asserting that the Fashola/ACN should be kicked out because some people don't want to pay toll fees.

Go ahead and replace Fashola/ACN with PDP. Like Arnold himself once said, make my day,

Someone paying N120 is equivalent to $0.80 cents which is a lil bit on the high side for a local toll road not an major interstate, and looking at the standard of living in Lagos, I think it's quite on the highside. How about the charge like $0.30 which is like N45, that's more affordable. Although, that would create traffic bottle neck again, this is where govt steps in and creates efficent carpooling, or otherwise.

^-- I mean, the cost of operating the road is what it is, right? So if they charge N120 but it costs LCC 110 per car, then it isn't even worth their while. I highly doubt they are charging 120 for something that costs like 15 or 20. N45 would probably lead to them losing money. Unless of course the Lagos State Govt wants to subsidize the difference between LCCs fair price and the true cost.

And I'm not at all a fan of subsidies for something like this. . .

eku_bear:

The website describes an alternative route:
http://www.lcc.com.ng/News/NewsContent.aspx?newsid=27

Or is this route not functional?

I drove through the new Lekki-expressway toll road in June. I drove through the "under-construction" toll gates.

Dapo, I also passed through and saw the traffic and the state of the so called "alternate routes". That was not a good alternative.

Lagos is not Texas. While this new road might look like a Sam Houston Tollway, the alternate route they have on LCC's website and the one I saw on ground is not exactly TX Beltway 8 (sorry about the Texas references I'm assuming you live there from something you posted earlier)

I will wait for those who currently use the alternate road to post current images and post their  experiences before I update my judgement. I confess I don't now what the current state is but calling what I saw in June a viable alternative is sad and disingenuous.

Note; I like the Lekki Toll project, and the quality of work I saw. It looks like a good development and the aesthetic view of the road against the backdrop of those new condos and other beautiful properties around the corridor is quite heartwarming and impressive but, that should not be an excuse for us to ignore the hardship and concerns of road users.

Dapo, You really need a trip to Nigeria as soon as you can. (I'm assuming you've not been there in a while)


This link has pic of a section of the alternate route https://www.nairaland.com/nigeria/topic-367311.160.html#msg6096623

@eku_bear,  I have to say I am impressed by the map you have posted which has shed considerable light on the subject matter.  Thank you very much.
I would also add that this is the sort of objective analysis we need when we discuss issues affecting our country instead of getting emotionally worked up and blindly criticizing other people's opinions and viewpoints.