The Federal Government is acquiring parcels of land along the Lagos-Calabar Coastal Highway corridor with the aim of making investments, David Umahi, the minister of works, has said.
The minister explained that the government would be building houses, factories and tourism centres that are expected to generate revenue for the government in addition to the revenue that will be coming from tolling the highway.
“The Federal Government is planning to implement additional initiatives, including developing land along the corridor for tourism, factories, and housing, as part of efforts to further enhance returns on the project.
“We also acquired a number of parcels of land within the corridor, because we’ve seen that tolling of roads alone is not just going to give you a return on investment immediately,” Umahi said.
Read also: Don’t be afraid we will build Lagos-Calabar coastal highway — Tinubu
The minister, who spoke at an inter-ministerial press briefing to mark Nigeria’s 64the independence, added that the coastal highway was designed to relieve the strain on Apapa Wharf which, he said, had faced challenges due to its shallow berths that limit cargo handling capacity.
“These constraints have necessitated the costly process of trans-loading, where goods are shifted between vessels, resulting in significant daily financial losses for Nigeria,” he said.
He explained that the importance of the seven-axle road under construction was to facilitate the seamless transportation of goods from the Dangote refinery, fertiliser plant, and other major industries within the Lekki free trade zone.
The minister explained further that the highway would connect to the Sagamu-Benin Expressway, ensuring smoother logistics and supply chains across key regions, including the north, South-West, South-South, and South-East.
He recalled that the construction of the highway started in March, adding that the first phase of the project, made up of 47.47 kilometres of dual carriageway, was awarded to Hitech Construction Company Limited.
“When we started the 700 kilometres coastal highway that is traversing Lagos, Ogun, Ondo, Edo, Bayelsa, Rivers, Akwa Ibom and Cross River states, people did not understand its merits.
People did not see the project as an investment. And so, today, the first section is going to be completed by May 29, 2025, and we’re going to toll it, and we’re going to get back our money within five to 10 years,” he assured.
Umahi stressed that the project was set to tap into the renewable energy potential along the coastal corridor, with plans to harness wind energy for future development.
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