The Federal Government is billed to pay a whopping N2.75 billion to owners of properties to be demolished to give way for the 700-kilometre Lagos-Calabar coastal road project.
Minister of Works, Dave Umahi, said on Wednesday, while unveiling the project in Lagos, that Property owners affected by the demolition exercise carried out to give the right of way to the Lagos-Calabar coastal highway construction, would get N2.75 billion compensation from the Federal Government.
According to the Minister, the first batch of property owners affected by the construction got their compensation at the ceremony organised by the Federal Ministry of Works.
The highway is designed to connect Lagos to Cross River, passing through the coastal states of Ogun, Ondo, Delta, Bayelsa, Rivers and Akwa Ibom, before culminating in Cross River.
The Nigerian Economy learnt that Controversies has trailed the project following the demolition of Landmark Beach Resort, valued at $200 million, to create a right of way for the project which is estimated to cost the federal government N15 trillion.
