The Federal Government has taken a significant step toward attracting foreign investments for the Lagos-Calabar Coastal Highway project by signing key agreements aimed at securing international funding and technical expertise.
The Minister of Works, Dave Umahi, disclosed that the government has entered negotiations with global investors, infrastructure firms, and financial institutions to ensure the successful execution of the project. The Lagos-Calabar highway, a massive coastal road network stretching across several states, is expected to boost economic activities, facilitate trade, and enhance connectivity between key regions in Nigeria.
Umahi emphasized that the government is committed to ensuring the project is completed on schedule and meets international standards. He added that the highway will not only ease transportation for millions of Nigerians but also open up investment opportunities along the coastal corridor.
Economic experts believe that attracting foreign direct investment (FDI) into the project will reduce Nigeria’s reliance on public funds and debt financing, making it a more sustainable infrastructural development initiative. The government has assured Nigerians that the project will create thousands of jobs and contribute significantly to the country’s GDP growth.
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