The Nation Newspaper

Tag: Lagos-Calabar Coastal highway

  • Deutsche Bank leads $747m loan consortium for Lagos-Calabar coastal highway

    Deutsche Bank leads $747m loan consortium for Lagos-Calabar coastal highway

    German-based Deutsche Bank has led a $747 million loan Consortium to fund the first section of the Lagos-Calabar Coastal Highway — a flagship project under the Federal Government’s Renewed Hope Infrastructure Development Agenda.

    The loan will finance Phase 1 Section 1 of the project, covering a 47-kilometre stretch from Victoria Island to Eleko Village (47+47km) in Lagos.

    According to a statement from the Federal Ministry of Finance, This marks the largest syndicated loan ever arranged for a road project in Nigeria and the deal is not only significant in size but also sends a strong message to global markets that Nigeria is regaining investor confidence, thanks to ongoing economic reforms and efforts to make infrastructure investments more attractive and transparent.

    “This deal reflects the success of our macroeconomic reforms and the return of international capital to support Nigeria’s development,” said Wale Edun, Minister of Finance and Coordinating Minister of the Economy.

     “We are focused on financing infrastructure in ways that are sustainable, transparent, and catalytic — and this transaction is a model of that vision in action.”

        Deutsche Bank acted as the Global Coordinator, Lead Arranger, and Bookrunner — meaning it helped organise, manage, and secure the loan on behalf of the group of lenders.

        Other international and regional financial institutions that participated in the loan syndicate include: First Abu Dhabi Bank – Agent and Intercreditor Agent; African Export-Import Bank (Afrexim); Abu Dhabi Exports Office (ADEX); ECOWAS Bank for Investment and Development (EBID); Nexent Bank N.V. (formerly Credit Europe Bank N.V.) and Zenith Bank, via its offices in Nigeria, the UK, and Paris.

        To reduce risk for all parties, the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) provided partial political and commercial risk insurance. This kind of insurance protects lenders and investors from issues like government instability or unexpected policy changes that could affect repayments.

    Read Also: ECOWAS Bank approves $100m for Lagos-Calabar coastal highway

        Dr. Khalid Khalafalla, CEO of ICIEC, said, “Through ICIEC’s sovereign risk coverage, we are unlocking vital infrastructure that will ease congestion, stimulate trade, and support inclusive growth. This initiative will also create jobs, build local skills, and support small and medium-sized enterprises across West Africa.”

        The highway is being constructed by Hitech Construction Company Limited, a Nigerian engineering firm, under an EPC+F contract. This means the company is responsible not just for building the road (Engineering, Procurement, and Construction), but also for arranging part of the project financing — a model that links technical delivery to funding.

        Dany Abboud, Managing Director of Hitech, said, “With over 70 percent of this first section already completed, we are proving that Nigerian engineering — backed by structured international finance — can meet global standards. Our use of CRCP technology ensures durability and cost-efficiency.”

        The road is being built with Continuously Reinforced Concrete Pavement (CRCP) — a strong material that is expected to last at least 50 years with little need for maintenance. The project’s design also followed strict technical, legal, environmental, and social evaluations to meet international standards.

        According to David Umahi, Minister of Works, the highway is more than just a road project — it is a vital national asset that will improve trade, logistics, and tourism while creating thousands of jobs.

        “This transaction is a vote of confidence in Nigeria’s economic reform agenda,” Umahi said. “It sets a strong precedent for future partnerships between government and the private sector.”

        Once completed, the Lagos-Calabar Coastal Highway is expected to improve regional integration, reduce transportation costs, support industrial development along the southern corridor, and enhance access to ports and export zones. A tolling system is being developed to make the project self-sustaining and attractive for future investors.

        According to the Ministry of Finance, the successful execution of this deal has opened the door for Nigeria to pursue more bankable infrastructure projects using private capital, which reduces pressure on government budgets and increases delivery speed.

        “This landmark transaction reflects the renewed engagement of international financial institutions with Nigeria, driven by bold macroeconomic reforms and a commitment to delivering bankable, transformative projects,” the ministry stated.

  • Deutsche Bank leads $747m loan to boost Lagos-Calabar coastal highway

    Deutsche Bank leads $747m loan to boost Lagos-Calabar coastal highway

    German-based Deutsche Bank has led a $747 million loan to fund the first section of the Lagos-Calabar Coastal Highway — a flagship project under the Federal Government’s Renewed Hope Infrastructure Development Agenda.

    The loan will finance Phase 1 Section 1 of the project, covering a 47-kilometre stretch from Victoria Island to Eleko Village (47+47km) in Lagos. 

    According to a statement from the Federal Ministry of Finance, this marks the largest syndicated loan ever arranged for a road project in Nigeria and the deal is not only significant in size but also sends a strong message to global markets that Nigeria is regaining investor confidence, thanks to ongoing economic reforms and efforts to make infrastructure investments more attractive and transparent.

    “This deal reflects the success of our macroeconomic reforms and the return of international capital to support Nigeria’s development,” saidMinister of Finance and Coordinating Minister of the Economy Wale Edun said. 

    “We are focused on financing infrastructure in ways that are sustainable, transparent, and catalytic — and this transaction is a model of that vision in action.”

    Deutsche Bank acted as the Global Coordinator, Lead Arranger, and Bookrunner — meaning it helped organise, manage, and secure the loan on behalf of the group of lenders.

    Read Also: Tracking progress on the Lagos–Calabar coastal highway

    Other international and regional financial institutions that participated in the loan syndicate include: First Abu Dhabi Bank – Agent and Inter creditor Agent; African Export-Import Bank (Afrexim); Abu Dhabi Exports Office (ADEX); ECOWAS Bank for Investment and Development (EBID); Nexent Bank N.V. (formerly Credit Europe Bank N.V.) and Zenith Bank, via its offices in Nigeria, the UK, and Paris.

    To reduce risk for all parties, the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) provided partial political and commercial risk insurance. 

    This kind of insurance protects lenders and investors from issues like government instability or unexpected policy changes that could affect repayments.

     CEO of ICIEC Dr. Khalid Khalafalla said: “Through ICIEC’s sovereign risk coverage, we are unlocking vital infrastructure that will ease congestion, stimulate trade, and support inclusive growth. This initiative will also create jobs, build local skills, and support small and medium-sized enterprises across West Africa.”

    The highway is being constructed by Hitech Construction Company Limited, a Nigerian engineering firm, under an EPC+F contract. 

    This means the company is responsible not just for building the road (Engineering, Procurement, and Construction), but also for arranging part of the project financing — a model that links technical delivery to funding.

    Managing Director of Hitech, Dany Abboud said, “With over 70 percent of this first section already completed, we are proving that Nigerian engineering — backed by structured international finance — can meet global standards. Our use of CRCP technology ensures durability and cost-efficiency.”

    The road is being built with Continuously Reinforced Concrete Pavement (CRCP) — a strong material that is expected to last at least 50 years with little need for maintenance. The project’s design also followed strict technical, legal, environmental, and social evaluations to meet international standards.

    According to David Umahi, Minister of Works, the highway is more than just a road project — it is a vital national asset that will improve trade, logistics, and tourism while creating thousands of jobs.

    “This transaction is a vote of confidence in Nigeria’s economic reform agenda,” Umahi said. “It sets a strong precedent for future partnerships between government and the private sector.”

    Once completed, the Lagos-Calabar Coastal Highway is expected to improve regional integration, reduce transportation costs, support industrial development along the southern corridor, and enhance access to ports and export zones. A tolling system is being developed to make the project self-sustaining and attractive for future investors.

    According to the Ministry of Finance, the successful execution of this deal has opened the door for Nigeria to pursue more bankable infrastructure projects using private capital, which reduces pressure on government budgets and increases delivery speed.

    “This landmark transaction reflects the renewed engagement of international financial institutions with Nigeria, driven by bold macroeconomic reforms and a commitment to delivering bankable, transformative projects,” the ministry stated.

  • Afenifere hails Tinubu for kick-starting Lagos-Calabar coastal highway, other key projects

    Afenifere hails Tinubu for kick-starting Lagos-Calabar coastal highway, other key projects

    The Pan-Yoruba socio-political group, Afenifere, has lauded President Bola Tinubu for his administration’s commitment to delivering critical infrastructure, particularly road projects that directly impact citizens’ lives.

    Speaking to journalists at the Akure Airport on Tuesday, Afenifere’s General Secretary, Sola Ebiseni, praised the President for flagging off the first phase of the Lagos-Calabar Coastal Highway, describing it as a landmark initiative.

    Ebiseni noted that the coastal highway project would not only enhance connectivity across regions but also usher in a new era of infrastructural development for the Niger Delta and surrounding areas.

    He commended the Tinubu administration for its bold steps in actualising projects that had long been on the drawing board, saying such efforts would bring economic growth and social transformation to the people.

    “I notice some monumental initiatives, particularly in the area of road infrastructure development. Take the Lagos-Calabar Coastal Highway, for instance.

    “We have archival records that the road was proposed around 1900 when the Ilaje coastal territory of the present Ondo State was still part of Lagos Colony. There was already a telegraphic line which connected Lagos through Ilaje to Warri along the Atlantic corridor.

    “The road was designed in alignment with the telegraphic route to link Lagos Colony with the Southern Protectorate, whose headquarters were then incidentally at Calabar,” he said.

    Mr Ebeseni recalled that an agreement to link the road was reached in 1900 when Sir William Macgregor, Governor of Lagos Colony, was on tour of the Ilaje, the eastern boundary of the colony up to around the Benin River in Warri Division.

    “The document was later signed on the 12th January 1904 between Sir William Macgregor, Governor of Lagos Colony, and Sir Wyndham Roseberry of Southern Protectorate.

    “President Tinubu has taken such a bold step in launching this historic road project which, if faithfully implemented, would be the most monumental, particularly in the Niger Delta.”

    Read Also: Afenifere hails Tinubu over Southwest Development Commission

    He charged President Tinubu to allow the road project to follow the coastline of Ilaje in Ondo State, aside from the coastal route of Lagos.

    Fielding questions on the division rocking the group, Mr Ebeseni said the two factions of the late Ayo Adebanjo and Pa Reuben Fasoranti have what it takes to come together in unionism.

    According to him, Afenifere is a welfarist socio-political organisation with an ideological stance that has been maintained since 1951 with an unambiguous position on national issues.

    “At critical times in our national life in the Action Group, UPN, SDP/NADECO, AD, AD/APP and presently, there have been contests on ideological ground which have always been resolved according to Awolowo on the interplay of thesis and antithesis.

    “The current disagreement is not so deep in my view. It is between strict adherence to its historical socio-political character of Awolowo’s political world view and the new romance with being a Yoruba socio-cultural organisation of all-comers.

    “No viable organisation, including political parties, is spared the bug of centrifugal forces today in our country. The new leader has what it takes to navigate the mines and bring all together.”

  • On a more inclusive Lagos-Calabar Coastal Road

    On a more inclusive Lagos-Calabar Coastal Road

    • By C. Don Adinuba

    The Lagos-Calabar Coastal Highway was originally conceived to connect Lagos, Ogun, Ondo, Delta, Rivers, Bayelsa, Akwa Ibom, and Cross Rivers states. In other words, the 700-kilometre road, whose contract was awarded at $11 billion and remains the biggest infrastructure project by the Bola Tinubu administration, was meant to connect two of the country’s three geopolitical zones in southern Nigeria. Why was the Southeast left out? No explanation was given for this fundamental political and economic error. But this awful deficiency has now been rectified. On April 16, President Tinubu flagged off the 118kilometre road extension from Calabar, the Cross River State capital, to Afikpo in Ebonyi State, connecting the Southeast.

    The Lagos-Calabar Coastal Highway also now includes Benue and Nasarawa states and the Abuja Federal Capital Territory, all in Nigeria’s North-central geopolitical zone. Nigerians may have quibbled with the prioritization of the road, the cost, the manner of the award, and the choice of the contractor, but the project, scheduled for completion in 2031, is now a fait accompli. It is now more inclusive, bringing down the country’s political temperature and fostering a greater sense of national participation and project ownership.

    While the original vision of the road may not be his, its expansion to make it more inclusive appears to have the input of the Minister of Works, Dave Umahi, which President Tinubu embraced enthusiastically in furtherance of national cohesion and rapid progress. The minister seems to appreciate the burden of history on his shoulders. He is the first person from the Southeast to be appointed the Minister of Works and comes from Ebonyi, the most neglected state in the Southeast. Therefore, he recognizes the value of social justice.

    He was appointed purely on merit. Elected into the Senate in 2023, Umahi is a civil engineer driven by what psychologists call intrinsic motivation, as opposed to extrinsic motivation. He has a passion for both engineering and public service. Though a politician who has led the Southeast Governors Forum, Umahi is generally considered a technocrat. He has caused the Federal Ministry of Works to make key changes in, among other areas, road design and construction plus aesthetics.  Key roads are now built on a cement base. The nation has seen the expertise and passion he has brought in addressing bridges and roads in Lagos, Nigeria’s commercial capital, guiding contractors and Ministry of Works engineers on the path of professionalism and modernity, enabling the citizens to have full value for their money.

    Read Also: Alleged N32b fraud: ‘Why I withdrew charge against Fidelity Bank’s MD/CEO Onyeali-Ikpe – AGF Fagbemi

    The appointment of accomplished professionals as leaders of organizations where they have core competencies has been a subject of interest to leadership scholars around the globe for decades. While there is a general agreement by both researchers and practitioners that individuals should be sent to places where they have a competitive edge, sometimes non-experts are appointed to head organizations where they have little or no expertise; they sometimes surprise everyone with their brilliant performance. For instance, when IBM, the American technology icon, ran into rough weather and was about to go into receivership in 1992, Louis Gerstner, a person with almost no knowledge of technology, was hired as its CEO; he did a marvellous job! Still, IBM has since then been hiring only technology experts as CEOs.  Perhaps, borrowing a leaf from the IBM of the early 1990s, Volvo, the Swedish motor company, chose Jim Rowan, an expert in electronics sales, as its chief executive in 2022, but by March 2025, the firm was doing so awfully that it had to remove Rowan and bring back its former CEO, 75 year-old Hankan Samuelsson, to run the multinational for two years while it searches for a substantive CEO.  In other words, Rowan was a square peg in a round hole while Samelsson is a square peg in a square hole. Having a professional fit is critical to organizational performance.

    As the Ebonyi State chief executive from 2015 to 2023, Umahi was the first governor in Nigeria to build a large road network of some 1,500 kilometres with a cement base, even though Ebonyi has always received about the lowest allocation from the federation account monthly. He left a litany of engineering and aesthetic marvels at competitive costs in Ebonyi, stretching from the state airport to the international conference centre to international markets to hotels to educational institutions, to say nothing about bridges and flyovers he personally supervised. President Tinubu was impressed when he visited Ebonyi to campaign in 2023 and stated so publicly. Perhaps at this point, he resolved to appoint him the Minister of Works if he won the presidential vote.

    Several roads are being reconstructed or rehabilitated across the country’s six geopolitical zones, including the Southeast, which has for decades been complaining of neglect in the provision of critical infrastructure, of course, with justification. Many of the new roads have a cement base. This means that they will last much longer than conventional roads with a concrete base, though the upfront costs of the cement roads are higher.

    While it is true that the federal government is working on roads in each of the five states in the Southeast to make up for years of neglect, which Nigerians call marginalization, there is still a lot of work to be done in the zone to bring it up to scratch. For instance, the Okija-Ihiala-Uli-Egbu-Oguta Road connecting Anambra, Imo, and Rivers states has been abandoned since construction in 1982, for a whole 43 years! It is easily the worst federal road in the entire country. Some sections of the road are just impassable, especially during the rainy season, except to a person driving a military tank. Many people in the Ihiala section of the road do not go to school, work, or church on any day it rains.

    The road, which leads to the most crude oil-prolific area in the Rivers State, is macadamized, that is, it was constructed with a technology that had become antiquated even by 1982. The road desperately needs modernization. A road that connects three oil-producing states deserves a cement base so that it can last.

    The most important lesson from the expanded Lagos-Calabar Coastal Highway, which is now more inclusive and makes for greater national cohesion and progress, is the need to have accomplished professionals lead organizations in both the private and public sectors where they have core competencies. That’s why management scholars speak of person-organization fit. Still, it has to be stressed that technical or job knowledge is not enough. Public and private sector leaders must have a passion for their work and cherish values like integrity and commitment to the common good. The nation needs more Dave Umahis.

    •Adinuba was the Commissioner for Information and Public Enlightenment, Anambra State.

  • Lagos-Calabar Coastal highway to boost Nigeria’s economy by $12bn annually – Uzodimma

    Lagos-Calabar Coastal highway to boost Nigeria’s economy by $12bn annually – Uzodimma

    The Lagos-Calabar Coastal Highway, a flagship infrastructure initiative of President Bola Tinubu’s administration, is set to generate a significant economic impact and has already attracted interest from global financiers.

    Speaking at the commissioning of a completed section of the project, Imo State Governor, Hope Uzodimma, projected that the highway could contribute as much as $12 billion annually to Nigeria’s Gross Domestic Product (GDP) within its first ten years.

    “This project is more than a road, it is a catalyst for national development,” Uzodimma said. “By connecting nine coastal states, linking major ports, and unlocking critical trade routes, this highway will drive growth across agriculture, industry, tourism, and marine commerce.”

    Minister of Works, David Umahi, emphasised the project’s cost-effectiveness and fast pace. He revealed that top international financiers, including Deutsche Bank and the Development Bank of Southern Africa, had toured the site and praised the project as “undervalued” due to its high-quality output and efficient execution.

    “As of today, we have not secured one global loan on the project. Hitech has invested its own funds, and the work is about 80 percent completed,” Umahi noted. “The international stakeholders were impressed by the pace, quality, and the President’s vision.”

    Despite the absence of foreign loans, the project has recorded major milestones. A 30-kilometre stretch from Ahmadu Bello Way to Eleko Village in Lagos has already been completed ahead of schedule, signalling effective planning and execution.

    President Tinubu, during the inauguration, expressed satisfaction with the progress made so far. “It is a great honour and a sense of fulfilment to commission this completed section — Phase 1, Section 1 — of the 750-kilometre Lagos-Calabar Coastal Highway,” he stated.

  • Tinubu’s commissioning of Lagos-Calabar Coastal Highway for livestreaming

    Tinubu’s commissioning of Lagos-Calabar Coastal Highway for livestreaming

    President Bola Tinubu will today inaugurate the completed portion of the Phase One, Section One of the Lagos-Calabar Coastal Highway.

    The inauguration will be live-streamed on the Aso Rock Villa YouTube account.

    A statement on the official account of the President (@officialABAT) reads: “In a few minutes, I will be commissioning the completed first section of the Lagos-Calabar Coastal Superhighway, a critical artery for trade, tourism, and national integration.

    “We will also commission other completed road projects across the country.

    Read Also: Tinubu to inaugurate Lagos-Calabar Coastal Highway, other landmark projects

    “Under our Renewed Hope Agenda, infrastructure will not just be brick and mortar alone. Our administration will ensure that sustainable, impactful infrastructure becomes the backbone of economic growth, job creation, opportunities, and national unity for our dear Nation, Nigeria. #RenewedHopeAt2 #BetOnNigeria

    “LIVESTREAM – https://youtube.com/live/04af2uG8H_E?feature=share“

  • Pace of work on Lagos-Calabar Coastal Highway project excites Reps committee

    Pace of work on Lagos-Calabar Coastal Highway project excites Reps committee

    The House of Representatives Committee on Works has expressed satisfaction with quality and pace of work on Section One of the Lagos-Calabar Coastal Highway project.

    The committee’s chairman, Akin Alabi, expressed satisfaction with the pace of work during an inspection of ongoing construction on the project yesterday.

    Alabi praised the contractor for the “quality job” and the Federal Ministry of Works for its effective supervision.

    The committee chairman acknowledged some challenges the contractor had listed.

    He urged the contractor to deliver the project according to the agreed schedule.

    Alabi said the committee would provide the necessary support for any additional costs required for the project’s completion, as he lauded the contractor’s prudent use of funds it had been allocated.

    “On our part in parliament, our job is clear. If you want N100, for instance, we give you N50. When you show us what you have done with it and reasons to give you the balance of N50—if you require more after that, parliament looks at it and chooses whether to approve or decline.

    Read Also: PDP: From bloom to gloom

    “In this case, based on what we have approved, there are contingencies that can accommodate changes. However, if they need more, they bring the matter to the parliament — Committee of Works — we will deliberate on it and support them the best way we can.

    “They have proven that the little they have received was used judiciously. So, there is no reason we would not approve.

    “I have the authority of the Honourable Speaker of the House, Mr. Tajudeen Abass, that whatever they need — within reasonable limit — the parliament would approve for them.”

    The Federal Controller of Works in Lagos, Mrs. Olukorede Kesha, expressed appreciation to the committee for its independent assessment and commendation of the contractor and ministry for the quality of work achieved so far.

    Mrs. Kesha stressed the need for understanding to ensure quality work, particularly in challenging areas, to maximise use of the nation’s limited resources.

    “Though we want to solve situations, we do not want to put it on the ground. And we don’t want to waste the scarce resources that the nation has at the moment.”

    “So, we need to watch the behavior of the field material and then see how it reacts to the pressure applied,” she said.

    The Controller of Works explained the time required for soil consolidation in swampy areas.

    She cited the Lagos-Badagry project as an example, where filled swamp areas were left for a minimum of 18 months, spanning two rainy seasons, to achieve final consolidation before the final road construction.

    The Managing Director of HITECH Construction Company Limited, Mr. Dany Abboud, reassured the committee that the company remained committed to delivering a project that would meet the high standards envisioned by the Federal Government.

  • Phase I of Lagos-Calabar Coastal Highway 70% ready, says Works Minister

    Phase I of Lagos-Calabar Coastal Highway 70% ready, says Works Minister

    • Umahi foresees January 2026 delivery date

    Construction of Phase 1 of the Lagos-Calabar Coastal Highway will be completed in January 2026, the Minister of Works, Sen. Dave Umahi, has said.

    Umahi made the disclosure during an inspection tour of the highway. “We came to review the project with the financial promoters – Dutch Bank and Development Bank of Southern Africa,” he said.

    He said it was projected that 20km of the road (from Ahmadu Bello Way in Lagos) would have been completed by May.

    “We are going to surpass the 20km from this site,” the Minister said.

    Umahi said the first phase of the highway project had been more than 70 per cent completed although the contractor had not got funds up to the 70 per cent.

    “That is why I call them people that have set their minds towards nation-building rather than making money,” he said.

    According to him, along the corridor, there are some lands that have been acquired for tourism, industries, factories and housing estates.

    “These are the road architecture that you are going to receive on this highway. I assure you that by January next year, God willing, we have this road completed,” the Minister said.

    He said the financial promoters of the highway were satisfied with the work progress, quality, method statement, and every other thing about the project.

    Umahi praised the contractor handling the project, Hitech Construction Company, for efforts made.

    “The road is exceptionally technically well-designed. The concrete thickness is designed for 275 millimetres but what they are doing is 280 millimetres.

    Read Also: Tinubu flags off 65km A’Ibom section of Lagos-Calabar coastal highway

    “I commend also the department in charge of this project – the Department of Bridge and Roads, and, of course, the controller of works in Lagos,” he said.

    Umahi said the greatest worry he could have would be motorists joining the highway ‘from their houses’

    “It is going to be a very serious issue; so, we have to design a barrier. I know that you are putting a retaining wall but you have not incorporated a retaining wall all through,” he said

    The Minister said as a superhighway, it would be expected that motorists would join it at flyovers and interchanges to avoid gridlock.

  • Lagos-Calabar Coastal Highway: Foreign Investors Network writes Tinubu over $250m loss

    Lagos-Calabar Coastal Highway: Foreign Investors Network writes Tinubu over $250m loss

    A CONSORTIUM of foreign investors is seeking the intervention of President Bola Ahmed Tinubu in the alleged destruction of their investments valued at over $250 million.

    In an open letter under the auspices of Foreign Investors Network, the businessmen claimed that the diversion of the Lagos-Calabar Coastal Road affected their estate project – the Winhomes Global Services at Okun Ajah, a Lagos suburb.

    The investors expressed disappointment and said they felt betrayed by what they described as non-adherence to transparency, fairness and the rule of law.

    According to them, they had invested in Nigeria’s development based on the administration’s Renewed Hope Agenda (RHA) and its promise of a new Nigeria.

    They however alleged that the actions of some officials have raised concerns about the government’s commitment to protecting investments.

    The investors refuted claims that a marine cable project necessitated the inland diversion. They laced their claim with technical reports that show the cable’s location is offshore and nowhere near the gazetted alignment.

    They warned that “the unlawful demolition of their estate without proper consultation, compensation, or adherence to due process risks damaging Nigeria’s international credibility and deterring future foreign direct investment.”

    Read Also: Oyetola flags off life jacket distribution to curb boat mishaps across Nigeria

    The group urged the President Tinubu to wade in without delay, failing which it threatened to seek redress.

    Among other requests, they plead with the president to  halt demolition activities at Okun Ajah; launch an independent investigation into the diversion; ensure compensation and restitution for affected investors and hold those responsible for violating established legal processes accountable.

    The investors stressed that they had acted in good faith, purchasing the land lawfully and obtaining all requisite titles.

    The open letter reads: “Without prompt redress, they threatened to escalate the matter internationally through diplomatic, legal, and media channels, risking further embarrassment for Nigeria’s investment climate.”

    The letter contains the highlights of growing tension over the Lagos-Calabar Coastal Road project.

    “We believed in the promise of a new Nigeria under your leadership. But what we have experienced is a harsh betrayal of that promise,” the investors said in the letter.

  • Lagos-Calabar Coastal Highway: Fed Govt kicks off dredging of Section 2

    Lagos-Calabar Coastal Highway: Fed Govt kicks off dredging of Section 2

    Minister of Works, David Umahi, has announced the commencement of clearing and dredging for Section Two of the Lagos-Calabar Coastal Highway. He said the process follows existing laws and global best practices, focusing on maintaining pavement levels, protecting shorelines, and incorporating climate-resilient measures.

    Speaking at a stakeholders’ meeting in Lagos, Umahi stated that the project aligned with President Bola Tinubu’s Renewed Hope Agenda. He explained that the highway aimed not only to ease traffic congestion but also to foster long-term development and attract investments.

    The minister said the highway would include multiple amenities such as a centrally located rail line. He added that the infrastructure is being designed with consideration for economic growth and the welfare of local communities, which is why stakeholder engagement remains a priority.

    Umahi addressed concerns regarding property demolitions, particularly the claims of a foreign investor whose $250 million business was allegedly impacted. He clarified that compensation had been paid to over 700 property owners affected by Section One’s right-of-way.

    In another development, Umahi revealed the federal government’s plan to deploy robotic technology for underwater bridge inspections nationwide. These robotic systems, he said, will reduce reliance on divers and minimize inspection costs.

    Read Also: Television lawyers

    The minister also announced that several bridges would be ready for commissioning by President Tinubu starting May 1, with more to follow in December.

    During the meeting, stakeholders praised the federal government’s efforts but urged attention to sustainability, especially regarding dredging and structural durability.

    On the issue of waterway closures between Eko and Carter Bridges, Umahi warned against misuse of bridges, stressing that they were designed for dynamic—not static—loads. He criticized activities such as parking and trading on the bridges, warning that continued abuse could force closures.

    He reiterated the Federal Executive Council’s directive prohibiting trenching within a 10-kilometer radius of any bridge nationwide. The Minister disclosed that the European Union had raised concerns that continued dredging could compromise the structural integrity of bridges.

    Umahi stressed the importance of halting illegal sand mining and dredging around bridge piles, noting that such activities threaten the very foundations of these aging structures.