David Umahi Addresses Circulating Video of Crack on Lagos-Calabar Coastal Highway
David Umahi addressed a circulating video showing a crack on the Lagos-Calabar Coastal Highway, stating that the structural failure was noticed and reported by concerned Nigerians. The Federal Capital Territory Minister confirmed receiving 500 messages about the crack.
Umahi revealed that the government needs N3 trillion to complete the ongoing road project, funded by the Nigerian National Petroleum Company Limited tax credit scheme. Despite the crack being on a completed section of the road, Umahi urged the public to disregard negative impressions.
He assured that the project would not be abandoned, and alternative funding sources would be arranged to ensure completion. The Federal Government secured a $747 million loan to complete the project, with Deutsche Bank leading the syndicated loan.
The Coastal Highway project has faced criticism, with former President Obasanjo calling it a potential avenue for corruption and resource misallocation.
Plus234Feed summary based on reporting from Legit NG. Read the original report below.
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