FG To Spend N4bn Per Km On Lagos -Calabar Coastal Road..Promises Completion In Eight Years - EDU-BIZNEWS


Thursday, April 11, 2024

FG To Spend N4bn Per Km On Lagos -Calabar Coastal Road..Promises Completion In Eight Years

Federal Government  of Nigeria has put cost of its massive 700km Lagos-Calabar coastal road construction at N4 billion per kilometre, putting to rest the allegation of inflation of the cost of the project

Former Vice President and 2023 Presidential candidate of the main opposition People's Democratic Party, Alhaji Atiku Abubakar had claimed that each kilometre of the road was inflated  

But the Minister of Works, Engr. Dave 
Umahi speaking on  Thursday while fielding questions about the project on Channels Television’s "The Morning Brief", .monitored by Edu-Biznews, dismissed the claim, saying each kilometre of the coastal road cost N4 billion, which according to him, is prudent enough in the estimation of government 

“We are looking at eight years in the life tenure of Mr President [Bola Tinubu],” he revealed 

“You know, there are other projects not awarded by me that are also going for about N4 billion per kilometre,” the former governor of Ebonyi State stated 

The Minister described the project as most prudent ever by the ministry under his leadership, saying plan has been put in place to recover the investment on the road project through tolling 

“So, I will pride myself, to the glory of God, that this project is the most prudent project that I’m starting. Other projects I made, we are reviewing, we are fighting, and we’re trying to review, the cost,” he said.

“Well, I cannot sign my signature on that because it can come down, it can go up,” the minister said.

But there are plans to recoup the money via tolling, according to the minister.

“Let me leave out the infrastructure along the corridor. Let me just concentrate on the tolls and I put 50,000 vehicles as an average passage on these toll points per day,” Umahi said on the breakfast show.

“I put N3,000 as an average cost. N3,000 because the cars could be like N1,500, and the big trucks could be like N5,000,” he said. “So, we put an average”.

He expressed confidence that huge investment through the tolling would be received in 15years 

“In 15 years, you make back the money,” he said, dismissing calls that the cost budgeted for the road was high." 

He said there will be security at the toll gates and also some facilities like filling stations.

“At every point of tolling, we also have toll station where we have a kind of relief activities: the restaurants, filling stations, parking lots, and so on and so forth,” Umahi said.

“So, people will now have confidence. In these sections, we intend to put CCTV all through.”

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