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Lagos-Calabar Coastal Highway Project Estimated to Cost N15.7 Trillion

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Infrastructure News

Lagos-Calabar,Coastal Highway,Project

The estimated cost of the Lagos-Calabar coastal highway project is said to be N15.7 trillion, according to a politician. This would make each kilometre of the project approximately N22.5 billion. The project will not be under a public-private partnership arrangement, and the government will be providing 15 percent of the funding.

, the politician had said the Lagos-Calabar coastal highway project could cost the federal government “N15.7 trillion” — putting the approximation of each kilometre being built at N22.5 billion.

“This is scandalous. Worse still, they have already awarded the contract but are still not sure of the level of the counterpart funding component of the federal government! “Although the national assembly approved N500m for the project this year, the Tinubu administration has released N1.06tn,” he added.

“It is wrong for him to have concluded that only Hitech could handle this project when such a project has been done by other reputable firms in the United States, China and South Africa.“He claims he didn’t know there was a business relationship between Gilbert Chagoury and Tinubu, but this is another lie because Tinubu has publicly acknowledged this fact.

Lagos-Calabar Coastal Highway Project Cost N15.7 Trillion Politician Estimate Public-Private Partnership Funding

 

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