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The Federal Government has said a number of financial institutions have shown eagerness to participate in the execution of the Lagos-Calabar Coastal Highway project, the Sokoto-Badagry Superhighway and similar landmark road projects.
The Minister of Works, Sen. Dave Umahi, made the disclosure while addressing journalists after inspecting the Lagos-Calabar Coastal Highway and some bridges in Lagos.
“I have had meetings with a lot of financial institutions, and they are very eager to participate.
“We are doing everything to complete Section 1 by December and have it approved, and that will open a floodgate for other financial aids.
“One thing that I must commend the President for and, of course, beat my chest and say glory be to God, is that the international funders came and they saw the quantum of the job we are doing.
“That, for me, is a pass mark,” Umahi said.
He said that the recently-inaugurated 30km portion of the Lagos-Calabar Coastal Highway would not be opened to motorists until completion of an additional 17.47km portion of the Section One, Phase One, of the road project.
“We completed 20km at the beginning, and then we completed 10km,” Umahi said.
He noted that the contractor, Hi-Tech Construction company, was working hard to complete the 17.47km.
Umahi said, “This is what we are working to join, and when we have joined it, if you are travelling from Ahmadu Bello Way to the Lekki Free Zone, then you can use the coastal highway.”
The minister said that the road would be tolled to ensure constant maintenance.
“Whether these roads are tolled or not, they need constant maintenance,” he added.
