The Federal Government has earmarked N18 billion for compensating property owners affected by the construction of Section 1 of the Lagos-Calabar coastal highway, Minister of Works David Umahi announced on Sunday.
He assured stakeholders that all individuals listed for compensation would receive payments within the next 10 days.
Speaking at a stakeholder meeting addressing Sections 1 and 2 of the coastal road project, Umahi acknowledged the legal requirements for fair compensation and the financial complexities involved. “Initially, the compensation budget was set at N8 billion, but we have now reached N18 billion,” he explained, adding that full transparency would be maintained, with details of the beneficiaries, property specifics, and costs to be published.
Umahi stated that 50% of compensation payments had already been disbursed. He directed the Federal Controller of Works in Lagos State, Olukorede Keisha, to prioritize the payments and expedite the remaining disbursements. “We are committed to completing 100% of the payments as documented within the next 10 days,” he said.
In related updates, Umahi revealed that delays had led to the termination of several contracts, including parts of the Lokoja-Benin corridor and sections of the Lagos-Ibadan expressway. “Contractors who lack the required equipment or fail to meet timelines will face contract termination,” he warned.
