Ideas, they say, rule the world and I daresay, great ideas are indeed a sine qua non for socioeconomic growth and development anytime, any day! Any wonder that one of the common denominators and defining values of the President Bola Tinubu administration is its penchant for conceptualising as well as executing bold ideas?

The Lagos-Calabar coastal project is one of such bold ideas that has been undertaken by the Tinubu government. Originally conceived by former President Goodluck Jonathan and later reviewed by the immediate past administration of Muhammadu Buhari, the 700-kilometre Lagos-Calabar coastal highway, which will traverse nine states including Lagos, Ogun, Ondo, Delta, Bayelsa, Cross River, Akwa Ibom, Rivers states, will be a game-changer of some sorts.

In the views of some project managers who have assessed the enormity of the Lagos-Calabar highway, they spoke in unison about the significance of the project as a major driver of the much touted blue economy, which, in their estimation, will boost the nation’s foreign direct investment.

Experts’ opinions on the positive impacts of the project upon completion are as revealing as they are overwhelming because they speak to all-round socioeconomic development along the corridors with Nigerians as the sole beneficiaries as the project will unlock economic opportunities and open new corridors for trade, tourism, and industries.

Firing the first salvo, the Minister of Works, Senator David Umahi, during a roundtable discussion in Lagos with businesses, stakeholders, and communities that the Coastal Road project will affect, said a lot will certainly give.

The civil engineer said: “The Lagos to Calabar coastal road is a national asset at a time when Nigeria seeks to attract more investments into the economy. The federal government has adopted the engineering, procurement, construction, and financing model with 30% counterpart funding”.

He further said that the coastal road would have two spurs that would link up with the north of Nigeria to further integrate the region with the south in terms of movement of people, goods and services.

Responding to concerns raised on the bidding process, Umahi said that Hi-Tech Construction Company was engaged to execute the project based on its track record in the Eko Atlantic Wall project, which has saved Victoria Island, Lagos from ocean surge, and the execution of the Dangote-tax credit Oworonsoki-Oshodi-Apapa expressway through reinforced concrete construction. He added that Ahmadu Bello Way, Victoria Island, Lagos, is the zero point for the 700km coastal road project connecting nine states.

“The sections for this coastal road project include Ahmadu Bello Way to Lekki Deep Sea Port, Lekki Deep Sea Port to Ogun/Ondo boundary, Calabar to Uyo, Port Harcourt to Bayelsa, Bayelsa to Ondo. This project will unlock economic opportunities and open new corridors for trade, tourism, and industries”, the minister explained.

On the right of way, along with the proposed demolition of structures and buildings, he clarified that the over the $150 million Landmark Event Centre and its adjoining business structures are safe except for the beach resort, which would be affected by the coastal road project.

He appealed to the royal fathers, political leaders, communities, businesses, and stakeholders whose properties and investments have been marked on the right of way to work with the Federal Government to achieve a win-win situation.

“We will compensate businesses affected along the right of way for the Lagos to Calabar coastal road project at the Federal Government-approved rate.

We are also looking at redesigning and realigning the project to accommodate the genuine concerns raised by stakeholders. The project has also been developed with provisions for the rail track in the middle”, he added.

Umahi said that a committee would be established to examine the environmental impact assessment report on the project, which would comprise representatives from coastal royal fathers, politicians, and businesses along the corridor.

According to him, the project is valued at $11billionn (N15 trillion) has an eight-year timeline and is expected to be completed by 2031.

The first phase of the new 700km highway will run through the nine coastal states is the 47.47km section beginning from Victoria Island. It has five lanes on each side of the dual carriageway and a train track in the middle.

The superhighway is being built by Hitech Construction Company. Part of the funding will be sourced by Hitech, the contractors.

Economic analysts have revealed that the completion of the first phase of the project alone could increase the size of Lagos State economy by 50 per cent because of the connection to Lekki Deep Seaport and the Lekki economic corridor where Dangote Refinery and Petrochemical Complex is situated alongside other multinational industries.

Also speaking on the benefit of the coastal road and how it will transform the economy of Cross River State, the state Commissioner of Information, Erasmus Ekpang, in a press statement, said the state government is overwhelmingly grateful to President Tinubu for embarking on the project decades after the necessity for the coastal road had been muted.

The highway, according to the commissioner, “will serve as a catalyst to transform the economy of Cross River state for optimum impact. I want to applaud President Tinubu for the political will to translate this lofty dream into a concrete reality.

“This coastal highway is going to be a game changer for the socio-economic status of Cross River. It is bound to add value to our rich agricultural produce while enhancing the profit base of local farmers. The benefits in the value chain are unimaginable”, he said, adding that .the highway would boost the tourism economy of Cross River.

“When completed, the road will also boost tourism traffic to our unique tourism sites by attracting an unprecedented number of tourists, given the thrills and frills synonymous with road travel”, he explained.

Echoing similar sentiments, Chairman of the All Progressives Congress in Cross River, Alphonsus Eba was effusive with praises to President Tinubu, who, according to him, has fulfilled a key aspect of his campaign promises to the people of the state.

“President Tinubu has once again demonstrated that he is a man of his word by keeping to his promise. When Senator Ben Ayade voiced this request during the presidential campaign in Calabar, he knew the economic importance of the road.

“Nothing is more gratifying at the moment than the cheering news of the commencement of the highway. This is a huge boost to the current drive of Governor Bassey Otu to alter the socio-economic narrative of our state. The highway is bound to ensure our rapid transformation in all facets of economic development by driving traffic of investors and tourists”, he said.