The Lekki Toll Road Concession is a US$347 million, 30-year public-private partnership toll road concession signed on April 24, 2006, between Lagos State and the Lekki Concession Company (LCC). The project aims to solve the historical problems of heavy traffic and poor road conditions from Lekki to Epe in southern Nigeria. The road will be tolled with different toll rates depending on vehicle size. The sponsors will handle traffic risk. The project will be accomplished in two phases:
• Phase I: Expansion and upgrade of 49.4 kilometers of the Ozumba Mbadiwe Avenue/Lekki-Epe Expressway
• Phase II: Construction of 14 kilometers of Coastal Road; there is also an option to improve the Southern Bypass