President Bola Tinubu has said the Lagos-Calabar Coastal Highway could add two per cent to Nigeria’s Gross Domestic Product through expanded trade, tourism and industrial activity, while creating an estimated 250,000 direct and indirect jobs.
He also said the project is expected to cut logistics costs along the corridor by 15 to 20 per cent.
Tinubu made the disclosure in a statement titled From Reforms to Delivery: Our Infrastructure Investment and Growth Strategy, issued on Friday, October 30, 2026.
Defending his recent borrowing plans, which have drawn criticism from the opposition and some Nigerians, the President named the Lagos-Calabar Coastal Highway as one of the major projects expected to benefit from the proposed facility.
According to the statement, the project is estimated to create about 100,000 direct jobs in construction and engineering, as well as more than 150,000 indirect jobs in related sectors.
The President said the highway would also lower the cost of moving goods and services along its route and support economic activities across the corridor.
The statement partly reads: “The Lagos-Calabar Coastal Highway is expected to cut logistics costs along its corridor by 15 to 20 per cent. It could add up to two per cent to Nigeria’s GDP through expanded trade, tourism, and industrial activity.
“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 coastal highway, Tinubu listed the Sokoto-Badagry Superhighway, the Trans-Sahara Superhighway, electricity grid upgrades and the modernisation of key commercial ports in Lagos as major projects expected to strengthen Nigeria’s productive capacity.
He said, “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 highway within the administration’s wider infrastructure investment plans.
Tinubu argued that Nigeria would need better infrastructure to achieve its ambition of becoming a $1 trillion economy by 2030.
He said sustained investment in infrastructure would be necessary to support higher productivity, industrialisation and trade.
“We cannot build a USD 1 trillion economy with infrastructure designed for an economy a fraction of that size,” the President said.
He also stated that improving economic indicators and growing international investor confidence were creating opportunities for Nigeria to attract long-term investment and expand critical infrastructure.
According to Tinubu, the economic reforms his administration introduced in May 2023 had helped restore macroeconomic stability, strengthen public finances and improve the country’s standing in international financial markets.
He maintained that a $1 trillion economy would not emerge through declarations alone, but would require sustained investment, higher productivity, industrialisation and trade.
A few days before the statement, Tinubu asked the Senate to approve a supplementary external borrowing plan of $20.52 billion and €1.05 billion for 2026–2027 to finance infrastructure and development projects across Nigeria.
He said the proposed funds would support key sectors, including power, transportation, healthcare, agriculture, education, water supply, security and employment generation, while reinforcing public financial management reforms.
The President explained that the borrowing was meant to address Nigeria’s infrastructure deficit and bridge funding gaps for projects considered important to the country’s socioeconomic development.
He added that the proposed projects and programmes were selected after technical and economic evaluations, with consideration given to their expected contributions to national development.
According to Tinubu, most of the projects would be implemented across Nigeria’s 36 states and the Federal Capital Territory.
