EditorNigerians will foot the bill for the Lagos-Calabar Coastal Road, according to the federal government. The project, which includes building retaining walls to protect against flooding and marine attacks, is largely financed by foreign loans.
The government plans to recover the costs through tolls, expecting to break even within 10 years. With 70% of the project’s funding coming from foreign loans at a 2.5% interest rate, Nigerians will ultimately bear the cost of the highway.
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Meanwhile, Minister of Works, Dave Umahi, in an interview with Channels Television over the weekend, said he would be recommending to President Bola Ahmed Tinubu an immediate tolling of the first section of the road that would be completed before the end of this year (2025).
The section, which runs from Victoria Island area to Lekki in Lagos axis, is less than 20 kilometres.
The federal government had said it would build retaining walls along Chainage 18 of the ongoing coastal highway project to protect infrastructure from marine attacks, flooding and torrential wave coming from the shorelines.
Minister Umahi, who disclosed this to journalists during a public engagement put together by his Ministry, said introducing a retaining wall at the Chainage 18 would protect infrastructure from the encumbrances of flood.
“We will do shore protection base to prevent the water tides from eating into the infrastructure,” the works minister said.
Umahi said said the move has become more necessary considering that houses along the stretch had been submerged.
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He noted that the first phase of the Lagos-Calabar Highway would be completed in 36 months time. Twenty kilometres of the first section, he said, would be ready before the deadline. According to the minister, great investment and tourism opportunities would be generated after completing sections of the Lagos-Calabar Coastal Highway. But Umahi observed that 70% of the project would be financed with dollar-based loan at 2.5% interest and that the federal government would toll the road to recover all the money spent in just 10 years.
Praising Hitch Construction Company on the satisfactory dredging, excavation, dewatering, sand filling, and placement of crushed stone base, the minister acknowledged peculiar challenges flowing which Hitech’s Managing Director, Dany Abboud, provided updates on the Lagos-Calabar Coastal Highway project.
Abboud said the team encountered challenges forcing the contractors to excavate 10 meters deep. He disclosed that the team of workers are currently working to finalise designs with a view to tackling the challenges.
“The construction team is working diligently to complete the project, with 20 kilometres of the first section anticipated to be ready before the deadline. Marine engineers are providing crucial information to structural engineers, who will submit their designs soon. Once approved, the project will continue with the necessary assessments,” he explained.
Meanwhile, Federal Controller of Works in Lagos State, Engr. Olukorede Keisha, assured minister Umahi of “round-the-clock supervision” to ensure the project meets specifications and completed within the agreed timelines.
