Infrastructural Development in Nigeria: A Study of the Lekki Epe Expressway: (The Cost-Benefit Analysis Between 2010 - 2040). A 30 Year Period Analysis

The study focused on the Lekki-Epe Expressway concession project. The objective here is to analyse the cost-benefit effect of the project on the people that ply the road. This is a way of analysing whether the welfare of the people increases or decreases with the project. To carry out the analysis, several assumptions were made. The cost of the project by the executors has been stated. The benefits to them will come from the tolls, for the period of thirty years (30 years). This paper studied the impact of this project on the people by way of assigning values to the benefits and costs. The vehicles were categorized based on tolls to be paid. The study summarized that the project has value in the sense that the benefits from it, outweigh the costs, based on cost benefit analysis procedure, which is centered on NPV; Cost-Benefit ratio. On the whole, the NPV was positive i.e. > 0 and benefit/cost ratio is > 1. Apart from the primary benefits that projects normally takes into consideration, other benefits were also detected. These benefits are called secondary benefits. These include: saving on petrol, on car maintenance, on time to destinations, among others. This shows that the Lekki-Epe Expressway concession project is a viable project, and that it will increase the welfare of the people, and directly or indirectly improve the standard of living of the people.