The federal government, led by President Bola Ahmed Tinubu, has announced a compensation package of N2.75 billion for property owners affected by the demolition required for the construction of the Lagos-Calabar Coastal Highway.
Minister of Works and Housing David Umahi disclosed this on Wednesday, May 1, 2024, during a stakeholders meeting in Lagos state, as reported by The Punch. The compensation process is expected to continue in the coming days.
Umahi clarified that the demolition will primarily target shanties and that existing infrastructure will not be impacted. He further directed the closure of the beach starting April 28.
The massive coastal project will span from channel 0 to channel 3, and its completion is estimated to take eight years. The 700 km highway will connect Lagos to Cross River, passing through Ogun, Ondo, Delta, Bayelsa, Rivers, and Akwa Ibom states.
According to Umahi, the construction cost per kilometer is estimated at N4 billion. The government expects to recoup the investment within 15 years through tolls ranging from N1500 to N5000 based on vehicle size. CONTINUE READING
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