Shanty dwellers and caravan owners along the shorelines of the 700-kilometre Lagos-Calabar coastal road project would not be compensated by the Federal Government.
This was disclosed by the Minister of Works, David Umahi while addressing a stakeholders meeting on the Lagos-Calabar highway project alongside with property owners seeking compensation for the planned demolition of houses along the coastal highway project. He assured that the Federal Government would compensate owners of permanent facilities and structures along the coastal road project while stressing that the coastal road belongs to the government.
Umahi said he inherited over 2,600 projects from former president Muhammadu Buhari’s administration. He noted that Tinubu’s administration in its efforts to bolster infrastructure milestones appropriated funds for the projects in the 2024 budget towards completion.
He said his ministry has a funding gap of N2.7 trillion.
He noted that the coastal project was viable and poised to interconnect states and stretch into Eastern and Southern regions of the country while stressing that the returns on investment of the coastal highway project will attract tourist attraction, commerce, water transportation, factories, hotels, and real estate development.
The minister explained that the project will cost a tentative sum of N15.356 trillion and would be completed before eight years. Umahi stated that when you develop infrastructure, it brings down inflation and makes the economy viable to attract foreign direct investment around the economic corridors.