By Muhammad Mamman
President Bola Tinubu has hailed a newly secured $1.26 billion funding package for the Lagos–Calabar Coastal Highway, describing it as a major milestone for one of Nigeria’s most ambitious infrastructure projects.
The funding agreement, announced on Friday, is expected to accelerate construction work on the multi-billion-dollar highway, which stretches across several coastal states and is designed to open up new economic corridors, drive tourism, and ease movement along the nation’s shoreline.
According to the Presidency, the fresh financing will support priority sections of the project, ensuring uninterrupted progress and strengthening investor confidence in Nigeria’s infrastructure drive.
President Tinubu praised the partners involved in securing the funds, noting that the deal reflects growing international and private-sector belief in Nigeria’s long-term economic prospects.
He reiterated his administration’s commitment to completing the highway within the projected timelines, stressing that the project will “reshape commerce, enhance connectivity, and lay the foundation for a modern coastal economy.”
The Lagos–Calabar Coastal Highway, when completed, is expected to link major cities, boost regional trade, and significantly cut travel time along the southern corridor.
