Lagos: A number of financial institutions have shown eagerness to participate in execution of the Lagos-Calabar Coastal Highway project, the Sokoto-Badagry Superhighway and similar landmark road projects of the Federal Government. The Minister of Works, Sen. Dave Umahi, made the disclosure while addressing journalists after inspecting the Lagos-Calabar Coastal Highway and some bridges in Lagos.
According to News Agency of Nigeria, Sen. Umahi revealed that he has engaged with several financial institutions that have expressed a strong interest in investing in these significant infrastructure projects. He emphasized the importance of completing Section 1 by December, which is anticipated to pave the way for more financial support. Sen. Umahi praised the President for attracting international funders who have acknowledged the substantial progress being made.
The minister noted that a recently-inaugurated 30km portion of the highway will remain closed to motorists until an additional 17.47km segment is completed as part of the ongoing efforts on Section One, Phase One of the project. He outlined that the project has seen the completion of an initial 20km, followed by an additional 10km.
The contractor, Hi-Tech Construction Company, is actively working on finalizing the 17.47km segment. Sen. Umahi explained that once this section is completed, the route from Ahmadu Bello Way to the Lekki Free Zone will be accessible via the coastal highway. He also mentioned plans to toll the road to ensure its ongoing maintenance, stressing the necessity of regular upkeep regardless of tolling.