President Bola Tinubu says the Lagos-Calabar Coastal Highway may contribute 2% to Nigeria’s Gross Domestic Product (GDP) by means of expanded commerce, tourism and industrial exercise, whereas producing an estimated 250,000 direct and oblique jobs.
He additionally mentioned the challenge is anticipated to cut back logistics prices alongside the hall by 15% to twenty%.
Tinubu disclosed this in a press release titled From Reforms to Delivery: Our Infrastructure Investment and Growth Strategy, issued on Friday, October 30, 2026.
The President, whereas defending his current borrowing plans, which have drawn criticism from the opposition and a few Nigerians, recognized the Lagos-Calabar Coastal Highway as one of many main tasks anticipated to learn from the proposed facility.
Lagos-Calabar Highway targets 250,000 jobs
According to the assertion, the challenge is estimated to generate about 100,000 direct jobs in development and engineering, alongside greater than 150,000 oblique jobs throughout associated sectors.
The President mentioned the freeway would additionally cut back the price of shifting items and providers alongside its route, whereas supporting financial actions throughout the hall.
- The assertion partly reads: “The Lagos-Calabar Coastal Highway is anticipated to chop logistics prices alongside its hall by 15 to twenty per cent. It may add as much as two per cent to Nigeria’s GDP by means of expanded commerce, tourism, and industrial exercise.
- “The project is also projected to generate about 100,000 direct jobs in construction and engineering, alongside more than 150,000 indirect jobs in logistics, materials and related services.”
Beyond the Lagos-Calabar Coastal Highway, Tinubu recognized the Sokoto-Badagry Superhighway, Trans-Sahara Superhighway, electrical energy grid upgrades and the modernisation of key industrial ports in Lagos as main tasks anticipated to strengthen Nigeria’s productive capability.
- He mentioned, “We are not simply building highways. We are opening economic corridors, connecting markets, unlocking industries and reshaping Nigeria’s economic geography.”
The President’s projections place the coastal freeway as a part of the administration’s wider infrastructure funding plans.
Tinubu hyperlinks infrastructure to $1 trillion financial system
Tinubu argued that Nigeria would want improved infrastructure to realize its ambition of turning into a $1 trillion financial system by 2030.
He mentioned sustained funding in infrastructure can be essential to assist larger productiveness, industrialisation and commerce.
- “We cannot build a USD 1 trillion economy with infrastructure designed for an economy a fraction of that size,” the President mentioned.
He additionally said that bettering financial indicators and rising worldwide investor confidence have been creating alternatives for Nigeria to draw long-term funding and broaden crucial infrastructure.
- According to Tinubu, the financial reforms launched by his administration in May 2023 had helped restore macroeconomic stability, strengthen public funds and enhance the nation’s standing in worldwide monetary markets.
He maintained {that a} $1 trillion financial system wouldn’t emerge by means of declarations alone however would require sustained funding, larger productiveness, industrialisation and commerce.
What it’s best to know
A couple of days before the assertion, President Tinubu requested the Senate to approve a supplementary exterior borrowing plan of $20.52 billion and €1.05 billion for 2026–2027 to finance infrastructure and growth tasks throughout Nigeria.
- He mentioned the proposed funds would assist key sectors, together with energy, transportation, healthcare, agriculture, training, water provide, safety and employment era, whereas strengthening public monetary administration reforms.
- The President defined that the borrowing was meant to handle Nigeria’s infrastructure deficit and bridge funding gaps for tasks thought-about essential to the nation’s socioeconomic growth.
- He added that the proposed tasks and programmes have been chosen following technical and financial evaluations, with consideration given to their anticipated contributions to nationwide growth.
According to Tinubu, a lot of the tasks can be carried out throughout Nigeria’s 36 states and the Federal Capital Territory.
