• This was a predominantly Nigerian transaction. The LCC team, the contractors, and the local lenders as well as most of the shareholders were all Nigerian. Such a high level of local participation seemed vital in addressing the public relations, technical, political, financial, commercial, and legal issues that arose throughout the process. Additionally, financial close was successfully achieved in October 2008 on ground-breaking terms for Nigeria.
• The project emphasizes the role of the state in ensuring the success of PPP projects. Lagos State government consistently demonstrated a strong commitment to the concession, including investing N5 billion in mezzanine finance and political support.
• The Lekki Toll Road Concession emphasizes the role of PPPs as the preferred model for road infrastructure financing and delivery in Nigeria.
• This project will also serve as a starting point for a new private-sector highway services industry within the West African region.