“We Will Recoup Our Investments On Lagos-Calabar Coastal Road Through Tolling”, Says Umahi

• FG To Charge N3,000 on Average Per Toll Gate 

By Abiola Olawale

The Federal Government has revealed that it will recoup its investment in the Lagos-Calabar Coastal Highway project through 15 years of tolling.

The Minister of Works, Dave Umahi who made this revelation during an interview with members of the press on Thursday, also said the Federal Government will charge an average toll gate fee of N3,000 on users of the Lagos-Calabar coastal road when it is completed.

The minister said this while dismissing calls from certain quarters that the cost budgeted for the road was high. According to him, the Federal Government is determined to deliver a quality project, and this would cost a lot of money. He added that there will be security at the toll gates and also some facilities like filling stations.

He said: “Let me leave out the infrastructure along the corridor. Let me just concentrate on the tolls and I put 50,000 vehicles as an average passage on these toll points per day,”

“I put N3,000 as an average cost. N3,000 because the cars could be like N1,500, and the big trucks could be like N5,000. So, we put an average.

“In 15 years, you make back the money.

“At every point of tolling, we also have toll stations where we have a kind of relief activities: the restaurants, filling stations, parking lots, and so on.

“So, people will now have confidence. In these sections, we intend to put CCTV all through.

The Minister of Works also said that the Lagos-Calabar coastal road construction will take eight years and cost N4bn per kilometer.

He also said the Federal Government is working to complete the project in eight years, before the expiration of a possible eight-year tenure of President Bola Ahmed Tinubu.

“We are looking at eight years in the life tenure of Mr President [Bola Tinubu],” he said.

“You know, there are other projects not awarded by me that are also going for about N4 billion per kilometer.

“So, I will pride myself, to the glory of God, that this project is the most prudent project that I’m starting. Other projects I made, we are reviewing, we are fighting, and we’re trying to review the cost,” he said.