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 16

BUSINESS

Lagos-Calabar highway: Telcos fear shutdown as construction threatens cables

•Undersea fibre cables linking Europe to Nigeria pass through construction corridor – ALTON, ATCON Barely 48 hours after Multichoice alerted subscribers to a three-day technical downtime, telecommunication companies have expressed concern over possible connectivity disruptions as construction advances on the 700km Lagos-Calabar Coastal Highway. While the DStv and GOtv owner acknowledged the anticipated impact of the ongoing Lagos-Calabar construction project on their uplink facilities, telcos on Sunday expressed broader concerns […]

May 6, 2024 32

1

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 113 1

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