Tinubu Lauds $1.126bn Fund for Lagos–Calabar Highway
Bola Tinubu has applauded the successful closure of $1.126 billion in financing for Phase 1, Section 2 of the Lagos–Calabar Coastal Highway, describing it as a major milestone that secures the continuity of one of Africa’s most ambitious infrastructure projects.
The president made the remarks on Friday, noting that the funding breakthrough demonstrates growing investor confidence in Nigeria’s infrastructure drive and reinforces the government’s commitment to long-term economic transformation.
According to Tinubu, the financing ensures uninterrupted progress on the coastal highway, which is designed to improve connectivity, boost trade and tourism, and stimulate economic activities along Nigeria’s southern corridor. He said the project will also create thousands of jobs during construction and after completion.
The Lagos–Calabar Coastal Highway is expected to link major commercial and industrial hubs, reduce travel time, and enhance access to ports and coastal communities. Government officials have said the road will incorporate modern design standards, climate-resilient features, and safety infrastructure.
Tinubu reaffirmed his administration’s resolve to prioritise critical infrastructure as a catalyst for growth, adding that strategic public–private partnerships and transparent financing structures would continue to be pursued to deliver large-scale projects nationwide.
The president urged relevant ministries and contractors to maintain high standards, ensure timely delivery, and maximise value for money as work progresses on the highway.
