TINUBU HAILS $1.26BN FINANCING FOR LAGOS–CALABAR COASTAL HIGHWAY
By:Safiya Abdulrahim Dabban
President Bola Tinubu has commended the successful closure of a $1.26 billion financing package for Phase One, Section Two of the Lagos–Calabar Coastal Highway, describing it as a major milestone in the delivery of one of Africa’s most ambitious infrastructure projects.
The President praised the Ministries of Finance and Works, alongside the Debt Management Office, for their collaboration, noting that the funding will ensure uninterrupted progress on the highway while reinforcing the government’s commitment to innovative financing for critical national projects.
The newly financed section will strengthen connectivity along key economic corridors, boost trade efficiency and improve logistics nationwide. The deal follows earlier funding secured for another section of the project and reflects growing investor confidence in Nigeria’s reformed investment climate.
President Tinubu said the achievement underscores his administration’s resolve to translate vision into action, drive infrastructure development and sustain economic growth under the Renewed Hope Agenda.