Construction of Coastal Routes Can Strengthen Naira — FG

Posted by Thandiubani on Thu 02nd May, 2024 - tori.ng

Umahi gave the hint at the unveiling of the new design routes for the Lagos-Calabar Coastal Highway project on Wednesday in Lagos.

The Minister of Works, Dave Umahi has made a claim concerning the construction of coastal routes in Nigeria.

He claimed the construction has the potential to attract foreign investment and contribute to a stronger naira.

Umahi gave the hint at the unveiling of the new design routes for the Lagos-Calabar Coastal Highway project on Wednesday in Lagos.

He said the government’s plan to improve infrastructure is ultimately to aim for an economic revolution in Nigeria.

“We talked about our economy, that it needs foreign investments.

“These roads are going to be constructed with concrete pavements, and it’s CPC+F, which means that there is foreign investment that will come in, and this foreign investment will strengthen and stabilize the naira.

“I’m very happy that the President has directed me to begin the design of one of the spurs linking this coastal route, and that is the Sokoto-Badagry, which was conceived by the President Shagari administration."

The minister also addressed criticism surrounding who gets credit for developing the coastal routes in Nigeria.

According to him, some people were upset that President Bola Tinubu was associated with the project, saying the criticism is misplaced anger and a way to attack Tinubu without understanding the bigger picture.

He argued that the project’s long-term benefits outweighed political squabbles, which, according to him, will leave a positive impact on future generations.