Construction of Nigeria’s coastal highway could cost $10 billion.
Building the new Coastal Highway linking Nigeria’s former capitals of Lagos and Calabar is expected to cost in excess of $10 billion. Construction is underway at present with work being carried out by contractor, Hitech Construction Limited.
The project is expected to deliver major economic gains for Nigeria. Work on the project has already boosted the economy of Lagos by as much as $2 billion, according to estimates. Thew new highway could deliver economic gains as much as $45 billion in the first five years after it opens to traffic.
Although the project has been criticised by some for its cost, it will speed transport across Southern Nigeria. Concrete is being used to build much of the highway.
