The Federal Government said it has disbursed N15 billion out of the N18 billion allocated for the first phase of compensation to property owners affected by demolitions along Section One of the Lagos-Calabar Highway.
This was disclosed by the The Director of Federal Highways, Bridges, and Design at the Federal Ministry of Works, Bede Obioha, in Lagos on Sunday at a stakeholders’ meeting on the Lagos-Calabar Coastal Highway.
Obioha, said the quantum of compensation was more than N18bn.
He said, “For Section 1, 47.7km, the quantum of compensation already put together is in excess of N18bn, and so far the contractor has managed to disburse over N15bn.
“Section 2 is being put together and as soon as all is done and necessary, we will now make the figure known as well. You will agree with me, we have been very transparent in all we are doing and engaging you as we get along.”
Minister of Works, David Umahi, has announced that 30 kilometers of the Lagos-Calabar Coastal Highway’s Phase 1, Section 1, are slated for completion and inauguration by President Bola Tinubu in May 2025.
He said, “30km out of 70km of Channel Zero, Lagos-Calabar Coastal Highway to be commissioned in May 2025.”
In November 2024, the Federal Government allocated N18 billion to compensate property owners affected by the construction of Section 1 of the Lagos-Calabar Coastal Highway.
The minister stated that half of this amount had already been disbursed and committed to completing all payments within 10 days.
