FG Secures $747 Million Loan for Lagos-Calabar Coastal Highway

FG Secures $747 Million Loan for Lagos-Calabar Coastal Highway

Lagos-Calabar Coastal Highway The Federal Government has secured a $747 million loan facility to fund Phase 1, Section 1 of the Lagos-Calabar Coastal Highway project, in what is being described as a milestone for infrastructure financing in Nigeria. The Ministry of Finance announced on Tuesday that the facility was arranged by Deutsche Bank, covering the stretch of the highway from Victoria Island to Eleko Village in Lagos State. The project […]

July 10, 2025 15

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BUSINESS

Coastal highway: What we built in six years was demolished in six hours – Landmark

A part of Landmark Beach on Victoria Island, Lagos on Monday was demolished to give way to the Lagos-Calabar Coastal Highway, Nigeria’s biggest public infrastructure project. This is despite the outcry in some sections about the potential jobs and means of livelihood that will be lost. Meanwhile, the Minister of Works, Dave Umahi, while defending the demolition noted that the move was necessary considering the landmark centre was located on […]

May 1, 2024 108 1

NEWS

Demolition of buildings for Lagos-Calabar coastal road begins Saturday

The Federal Government has announced that the demolition of buildings situated within the right of way of the Lagos-Calabar Coastal Road will commence this coming Saturday. According to Channels Television’ on Thursday, the Federal Controller of Works in Lagos State, Korede Keisha, disclosed this during a press briefing held in Lagos on Thursday. Keisha urged all residents whose houses have been earmarked for demolition to visit the ministry’s secretariat in […]

April 26, 2024 71

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