By Segun James
The Lekki Concession Company (LCC) has again appealed for the understanding of aggrieved youths who are bent on preventing the company from commencing the evaluation of the extent of the damage done to its assets on the night of Tuesday, October 20, 2020, citing the subsisting bank debts and the fate of its over 500 workers as compelling reasons the process ought to begin now.
Speaking at a press conference in Lagos yesterday, Managing Director of the LCC, Mr. Yomi Omomuwasan expressed regret that some people were using fake news to misinform Nigerians about the company’s ownership and whip up public sentiment against its return to business.
Urges protesters to allow plaza operate
Lekki Concession Company Ltd (LCC) has debunked social media claim that Admiralty Circle Toll Plaza is a cash cow, stating that the bulk of the earnings is being used to repay loan incurred for the project from local and foreign lenders.
Managing Director of LCC, Yomi Omomuwasan, who gave the explanation, in a statement, said the youths had been misled to believe that all the LCC does is collect toll, which has instigated them to shut down the plaza with their protest.
Omomuwasan said the “total loan balance” incurred by LCC for the project from local lenders stood at N23.9 billion, while that of foreign lenders (AfDB) stood at $49.6 million as of December 31, 2011.
The Lekki Concession Company (LCC) has again appealed for the understanding of aggrieved youths who are bent on preventing the Company from commencing the evaluation of the extent of the damage done to its assets on the night of Tuesday, October 20, 2020, citing the subsisting bank debts and the fate of its over 500 workers as compelling reasons the process ought to begin now.
Speaking at a press conference in Lagos on Monday, Managing Director of the LCC, Yomi Omomuwasan expressed regret that some people were using fake news to misinform Nigerians about the company’s ownership and whip up public sentiment against its return to business.