The Federal Government has announced that several international and local financial institutions have expressed keen interest in funding Nigeria’s flagship road projects, including the Lagos-Calabar Coastal Highway and the Sokoto-Badagry Superhighway.
Minister of Works, Senator David Umahi, made this known on Saturday, July 5, 2025, during an inspection of the ongoing coastal highway construction and accompanying bridges in Lagos.
“I have held meetings with many financial institutions, and they are very eager to participate. The scope and scale of what we are executing have impressed them,” Umahi said while addressing journalists at the site.
The Minister described the international investors’ enthusiasm as a “vote of confidence” in the administration’s infrastructure efforts, highlighting that the progress made so far has reassured funders of the project’s viability.
“That, for me, is a pass mark. I must commend Mr. President for the enabling environment and support,” he added.
According to Umahi, the government is focused on completing Section One of the project by December 2025, which would help unlock further funding opportunities from international development partners.
The first 30 kilometres of the highway have been constructed, but the road will remain closed to motorists until an additional 17.47 kilometres is completed to connect it seamlessly to the Lekki Free Trade Zone.
“We completed 20km at the beginning and added another 10km. What is left now is to link that with the ongoing 17.47km stretch. Once that is done, commuters will be able to travel from Ahmadu Bello Way to the Lekki Free Zone on the coastal highway,” he explained.
Umahi also confirmed that the road will be tolled upon completion to ensure sustainable maintenance.
“Whether the roads are tolled or not, they need constant maintenance. But yes, we plan to toll them to ensure durability and quality service,” he stated.
The Lagos-Calabar Coastal Highway is one of the Tinubu administration’s most ambitious infrastructure projects, designed to boost connectivity, promote trade, and open up the coastal economy.
The Ministry of Works reaffirmed its commitment to transparency, quality delivery, and timely completion, urging continued public and private sector collaboration to realise the project’s full potential.
