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Lagos State is in dire need of essential infrastructure in all the basic areas, including Roads, Transportation (e.g., Buses, Rail, and Ferries), Water and Power. Historically, a combination of lack of investment, inadequate maintenance, and focus on other government programmes, has meant that the condition and availability of essential infrastructure in Lagos State has actually deteriorated over the years, rather than improved. With a recently counted population of 9 million (2006 census) but still estimated by some to be in the region of 15 million today, and UN forecasts indicating a population figure growing close to 20 million by 2010, it is critical that the current trend of deterioration be reversed and that infrastructure keeps pace with Lagos' future population growth and needs
We currently have no reliable estimates of the amount of funding that is required to satisfy Lagos State's essential infrastructure needs into the foreseeable future; however, it is believed that the amounts concerned will at least run into billions of US Dollars annually, for several years to come. It is also believed that the level of funding required far exceeds the budgetary and resource capacity of Lagos State, thereby necessitating consideration of a wider range of key sources of funding (e.g., DFI Soft Loans, Federal Government Loans/Grants, private sector finance) and delivery models (e.g., PPP, private ownership) for securing the much needed investment. The key message here is that there is a role for all the key forms of funding and infrastructure delivery models, in meeting Lagos State's considerable infrastructure challenge.
One million motor vehicles are estimated to be stationed in Lagos today, with a daily traffic flow between Lagos Mainland and Lagos Island of about 500,000 motor vehicles. The poor condition of roads throughout Lagos is evident for all to see, characterized by crumbling sidewalks, badly pot-holed road surfaces, non-functional traffic lights, poor signage, and blocked or non-existent drainage systems, to name a few
The 2004 Lagos State "Roads Law" establishes the enabling framework for projects such as the Lekki Toll Road Concession. This legislation also formalizes the role of the new "State Roads, Bridges and Highway Infrastructure (Public Sector Participation) Development Board". The "PSP Board" as it is known in its abbreviated form, is the Regulatory Authority set up to oversee the Lekki Toll Road Concession, and other such PPP infrastructure projects in the Lagos State Roads Sector.
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