President Bola Tinubu has formally written to the House of Representatives requesting an amendment to the Federal Government’s External Borrowing Plan for the 2025–2026 period, seeking an additional $47 million specifically for the Lagos-Calabar Coastal Highway project.
The letter, which was signed by Minister of Finance and Coordinating Minister of the Economy, Wale Edun, and presented to the House by Speaker Tajudeen Abbas, proposes to increase the funding for the project from $700 million to $747 million.
The letter underscores the importance of the Lagos-Calabar Coastal Highway as a strategic infrastructure project, potentially linking multiple states along Nigeria’s coastline and fostering trade, tourism, and economic growth.
This request will now be subject to legislative deliberation and approval by the House of Representatives.