By Chukwuma Umeorah
President Bola Tinubu has said the 700km Lagos-Calabar Coastal Highway would create opportunities and enhance economic activities across the nation as well as open a new economic window for over 30 million people.
Speaking during the flag-off event in Lagos, he said the highway was more than just a road.
“It is a critical infrastructure that would promote national prosperity and provide direct jobs for thousands during and after its construction. Today is my day to brag, we are here, and Renewed Hope is here. The dream is realisable.
“During the period of construction, the road would provide direct employment for thousands of people and indirect employment for many more Nigerians. It would open economic opportunities for millions of people. It would fast-track community development and give over 30 million people improved access to production and marketing centres. It would equally reduce commute time for individuals and businesses.”
The road, stretching across Lagos, Ogun, Ondo, Delta, Bayelsa, Cross River, and Akwa Ibom, is designed to enhance connectivity and stimulate economic activities, significantly boosting Nigeria’s economy.
Tinubu added that with such a legacy project, generations yet unborn will have good memories to treasure. “We have set a standard that would outlive all of us. That is how to build the future.”
The President expressed his vision of building a prosperous nation that future generations could cherish and assured all stakeholders present of the timely completion.
Estimated to cost over N15 trillion with funding arranged through an EPC+F (Engineering, Procurement, Construction, and Financing) model, the highway is expected to generate substantial revenue through tolls, tourism, and other businesses and economic establishments that it would attract.
Minister of Works, David Umahi, in his address provided details on the project’s procurement process, affirming that all due processes were followed, including the Environmental and Social Impact Assessment (ESIA) and budgetary requirements. He stated that the highway would cost N4 billion per kilometre. ‘The project is procured and to be completed in sections. We have completed 3km of the first section, and the second section has been awarded, which is going to stop at the border between Ogun and Ondo.”
Umahi added that the highway will have a transformative impact on the agricultural and tourism sectors in Cross River State and other regions.
The president also commissioned several other projects including the reconstructed Apapa-Oworonshoki-Ojota-Oshodi Expressway, and the rehabilitated Third Mainland Bridge to mark one year in office.