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    Jadesola Adeoye
    The document summarizes the history of the Lekki-Epe Expressway project in Lagos State, Nigeria. It details that construction first began in 1980 under Governor Lateef Jakande but was halted in 1983 by the Buhari military regime. Construction resumed as a single carriageway under Governor Mudashiru. In 2006, Governor Tinubu controversially awarded the concession to expand the road to Lekki Concession Company without bidding and transferred prime beachfront land to them. Tolling began when only 6km was complete and 17 years later most of the road remains unfinished, costing far more than estimated.

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    Jadesola Adeoye
    21 views2 pages
    The document summarizes the history of the Lekki-Epe Expressway project in Lagos State, Nigeria. It details that construction first began in 1980 under Governor Lateef Jakande but was halted in 1983 by the Buhari military regime. Construction resumed as a single carriageway under Governor Mudashiru. In 2006, Governor Tinubu controversially awarded the concession to expand the road to Lekki Concession Company without bidding and transferred prime beachfront land to them. Tolling began when only 6km was complete and 17 years later most of the road remains unfinished, costing far more than estimated.

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    The document summarizes the history of the Lekki-Epe Expressway project in Lagos State, Nigeria. It details that construction first began in 1980 under Governor Lateef Jakande but was halted in 1983 by the Buhari military regime. Construction resumed as a single carriageway under Governor Mudashiru. In 2006, Governor Tinubu controversially awarded the concession to expand the road to Lekki Concession Company without bidding and transferred prime beachfront land to them. Tolling began when only 6km was complete and 17 years later most of the road remains unfinished, costing far more than estimated.

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    © All Rights Reserved
    Download as TXT, PDF, TXT or read online from Scribd
    Download as txt, pdf, or txt
    21 views2 pages

    Pos Password

    Uploaded by

    Jadesola Adeoye
    The document summarizes the history of the Lekki-Epe Expressway project in Lagos State, Nigeria. It details that construction first began in 1980 under Governor Lateef Jakande but was halted in 1983 by the Buhari military regime. Construction resumed as a single carriageway under Governor Mudashiru. In 2006, Governor Tinubu controversially awarded the concession to expand the road to Lekki Concession Company without bidding and transferred prime beachfront land to them. Tolling began when only 6km was complete and 17 years later most of the road remains unfinished, costing far more than estimated.

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    4839 POS PASSWORD

    Dear Lagosians,

    In 1980, Alhaji Lateef Jakande started the construction of the then non-existent
    Lekki-Epe Expressway, to connect the Eastern axis of Lagos State by road to the
    rest of Lagos.

    By December 1983, when Muhammadu Buhari & his band i of coupists struck, he had
    completed it to up to 53km, at Ibeju-Agbe town.

    Buhari ordered a stop to ALL development works in Lagos State, including the Metro
    Rail Line Project that had already been paid for in full, & the Lekki-Epe
    Expressway.

    Commodore Gbolahan Mudashiru, appointed Governor by Buhari, an indigene of Ikorodu,


    Lagos State, instead reduced the scope of the project to single carriageway and
    connected Ibeju-Lekki to Epe regardless.

    In 2003/2004, Tinubu, from Iragbiji, in Osun State, signed the Lagos State PPP
    board. In 2006, he suddenly announced that LCC had "won" the concession for the
    Lekki-Epe Expressway, with no public or private bidding process, & the project was
    valued at ₦50b at the time.

    He then also announced the transfer of 1500 hectares of prime, beach front land to
    Messrs ARM Ltd, gratis, as Lagos State's "contribution" to the funding of the
    Lekki-Epe Expressway "expansion" project. Lagos State was selling plots at Abijo
    Residential Scheme at the time at ₦5m per plot. The 22,500 plots at Lakowe would
    therefore cost about ₦67.5b, with a 40% discount off Abijo, just 10 minutes away.

    Not long after, a $42m "mezzanine loan" was granted to LCC/ARM by LASG! Again, more
    state contribution to the ostensibly "private" project.

    The concession agreement grants sweeping powers to LCC, & is reminiscent of


    colonial "protectorate" agreements in its letter and its spirit, but that was
    always the intention, as we have seen over time.

    The Lakowe land was used as collateral for a $340m syndicated loan, provided in
    tranches of $85m each by UBA Capital (Elumelu - now you understand the
    "Prezzdential" visit), Stanbic IBTC, Standard Bank of South Africa and African
    Development Bank (years before Akinwunmi Adeshina).

    Tolling began when construction barely reached km 6, and the construction remains
    UNCOMPLETED till date. 17 years under construction, for a dual carriageway that was
    at 53km within 3 years, FORTY YEARS AGO!

    I keep hearing 4th Mainland Bridge, at almost ₦1 trillion as of 2019. With the
    devaluation of the ₦ since then, we're looking easily at over ₦1 trillion now, plus
    another 20 years to complete, based on their record on Lekki-Epe Expressway, plus
    50 years tolling, and the near complete demolition of Ikorodu, Badore and parts of
    Lekki from behind the Lagos Business School.

    If you still vote for APC in Lagos State after reading this, you deserve everything
    that will surely befall you if they win.

    Postscript: At the height of Tolling of Lekki-Epe Expressway & Lekki-Ikoyi Link


    Bridge, a certain individual was earning a fantastic sum running into hundreds of
    millions DAILY in CASH. Now you understand the kerfuffle surrounding the new notes.
    You also understand the why of the #LekkiTollGateMassacre

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