Umahi: Foreign Banks’ 70% Funding of Lagos-Calabar Road Shows Contract Openness

THISDAYLIVE | 08-10-2026 04:54am |

Minister of Works, David Umahi, defended the federal government’s handling of the Lagos-Calabar Coastal Highway project, stating that funding only 30 per cent of the project while foreign banks cover the remaining 70 per cent demonstrates transparency and openness in the contracting process. Speaking at a press briefing in Abuja, Umahi also explained the ministry’s decision to divert part of the coastal highway in Ondo State, citing difficult terrain and the need for construction methods to protect the road from the encroaching sea. He added that the government would not be forced to revert to asphalt construction where it considers otherwise. He also said the EFCC will begin arresting defaulting contractors and insisted it is not the Igbos’ turn to be president.

Stay Updated with the Latest News!

Don't miss out on breaking stories and in-depth articles.