President Bola Ahmed Tinubu has welcomed the securing of $1.26 billion in financing for the Lagos–Calabar Coastal Highway, describing it as a major breakthrough for infrastructure development in Nigeria. He said the milestone shows growing investor confidence in the country’s economy and its long-term development plans.

The Lagos–Calabar highway is expected to run along Nigeria’s coastline, linking major commercial and tourism centres across several states. When completed, the road is projected to improve transportation, reduce travel time, boost trade, and create thousands of jobs both directly and indirectly.

Tinubu said the project is part of his administration’s broader effort to modernise infrastructure, attract private investment and strengthen regional integration. He added that improved road networks are critical to economic growth, national unity and the movement of goods and people across the country.

He also assured Nigerians that transparency and accountability would guide the implementation of the project so that public and private funds are properly managed. According to him, the coastal highway will open new economic opportunities and support sustainable development in communities along the route.