Minister of Works, David Umahi, has promised that the 750km Lagos-Calabar Coastal Highway will be completed before the end of Bola Ahmed Tinubu’s second term.
Umahi made this commitment on Tuesday at the signing of the Engineering, Procurement, Construction, and Finance (EPC+F) contract for the project between the Federal Government and Hitech Construction Company Nigeria Ltd.
He emphasized that the administration is determined to deliver the massive infrastructure project, calling it the “biggest ever known in Africa,” within Tinubu’s tenure.
Umahi noted that the project, first envisioned 27 years ago, is finally becoming a reality under the Renewed Hope agenda.
“It is a wonderful thing to witness this and to be part of it. We will continue to pray for Mr President, we will continue to support him, and we must continue to say that, given the two tenures of Mr President, Nigerians are assured that the entire 750 kilometres will be fully completed before he leaves office. And God, who started this, will see it to completion,” Umahi stated.
He added that the project, which began in March 2024, is being executed under an EPC+F model. This approach enables Hitech Construction to attract foreign investments in partnership with the Federal Ministry of Finance.
The Federal Government has pledged to provide 30% of the required funding, with the remaining costs to be covered through foreign financing.
The first phase of the highway, spanning 47.7 km from Ahmadu Bello Way in Lagos, is scheduled for completion by May 2025.
Umahi also revealed that the construction cost per kilometre would be around N4 billion.
The minister reaffirmed the administration’s dedication to expediting the project while maintaining global standards, emphasizing its potential to stimulate economic growth along Nigeria’s coastal corridor.
He said, “The beauty of it is that the ‘F’ component of EPC+F is now being fulfilled. By signing this contract, we are paving the way for the contractor, through the Federal Ministry of Finance, to secure foreign investment for the project. The Federal Government’s commitment is 30 percent counterpart funding, which the President is fulfilling.”
“And now, with the foreign financing component in place, the project’s execution will be accelerated. I am pleased with Hitech’s performance, the quality of work, and the speed of construction. If not for the need to settle a substantial fee, we would have been able to commission the entire first section within a year, even though the project is scheduled for 36 months.”
Follow the Parallel Facts channel on WhatsApp: https://whatsapp.com/channel/0029VaCQSAoHgZWiDjR3Kn2E
