{"id":124627,"date":"2025-12-27T10:32:50","date_gmt":"2025-12-27T09:32:50","guid":{"rendered":"https:\/\/pointblanknews.com\/pbn\/?p=124627"},"modified":"2025-12-27T10:32:50","modified_gmt":"2025-12-27T09:32:50","slug":"tinubu-applauds-1-126-billion-financing-for-lagos-calabar-coastal-highway","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/news\/tinubu-applauds-1-126-billion-financing-for-lagos-calabar-coastal-highway\/","title":{"rendered":"Tinubu Applauds $1.126 Billion Financing for Lagos\u2013Calabar Coastal Highway"},"content":{"rendered":"<div>By Lizzy Chirkpi<\/div>\n<div><\/div>\n<div>President Bola Tinubu has commended the Federal Ministry of Finance for securing USD 1.126 billion in financing for Phase 1, Section 2 of the Lagos\u2013Calabar Coastal Highway, describing it as a landmark achievement in Nigeria\u2019s infrastructure development.<\/div>\n<div><\/div>\n<div>The highway, considered one of Africa\u2019s most ambitious and transformative infrastructure projects, will see Phase 1, Section 2 cover approximately 55.7 kilometres, linking Eleko in Lekki to Ode-Omi. The project is expected to enhance national trade efficiency and logistics connectivity across key economic corridors.<\/div>\n<div><\/div>\n<div>President Tinubu praised the collaborative efforts of the Ministries of Finance and Works and the Debt Management Office, stating that the federal government would continue to explore innovative funding solutions for critical economic projects.<\/div>\n<div><\/div>\n<div>\u00a0\u201cThis is a major achievement, and closing this transaction means the Lagos\u2013Calabar Coastal Highway will continue unimpeded. Our administration will continue to explore available funding opportunities to execute critical economic and priority infrastructural projects across the country,\u201d the President said.<\/div>\n<div><\/div>\n<div>The successful financing follows the earlier USD 747 million closing for Phase 1, Section 1 and underscores the scalability and bankability of the highway project. The funding was fully underwritten by First Abu Dhabi Bank (USD 626 million) and Afreximbank (USD 500 million), with partial risk coverage provided by the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC)\u2014marking the largest ICIEC-backed transaction since Nigeria\u2019s regulatory reforms.<\/div>\n<div><\/div>\n<div>SkyKapital served as Lead Financial Advisor, coordinating structuring, lender engagement, and execution. Environmental and social advisory services were provided by Earth Active (UK), ensuring compliance with international ESG standards, including IFC Performance Standards and the Equator Principles. Legal advisory was led by Hogan Lovells internationally and Templars locally.<\/div>\n<div><\/div>\n<div>Minister of Finance and Coordinating Minister of the Economy, Wale Edun, described the transaction as a \u201cdefining moment in Nigeria\u2019s infrastructure journey,\u201d noting that the funds would be deployed responsibly to deliver the project on schedule.<\/div>\n<div><\/div>\n<div>\u201cThis financing represents, for the first time, a fully underwritten transaction of this magnitude for a Nigerian road infrastructure project. It firmly establishes the Lagos\u2013Calabar Coastal Highway as one of the flagship projects of President Tinubu\u2019s Renewed Hope agenda,\u201d Edun said.<\/div>\n<div><\/div>\n<div><\/div>\n<div><\/div>\n<div>Construction is being executed by Hitech Construction Company Limited, whose rapid progress and early opening of key sections have drawn commendations from lenders for operational discipline and engineering excellence.<\/div>\n<div><\/div>\n<div>In line with the Federal Government\u2019s commitment to transparency and fiscal discipline, a Value-for-Money assessment was conducted by the Ministry of Works in coordination with SkyKapital and independently reviewed by GIBB.<\/div>\n<div><\/div>\n<div>The successful closing of Phase 1, Section 2 is seen as a major boost to market confidence and demonstrates Nigeria\u2019s capacity to translate ambitious infrastructure plans into tangible results under the Renewed Hope Agenda.<\/div>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><!-- AddThis Related Posts generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>By Lizzy Chirkpi President Bola Tinubu has commended the Federal Ministry of Finance for securing USD 1.126 billion in financing for Phase 1, Section 2 of the Lagos\u2013Calabar Coastal Highway,&hellip;<!-- AddThis Advanced Settings generic via filter on wp_trim_excerpt --><!-- AddThis Share Buttons generic via filter on wp_trim_excerpt --><!-- AddThis Related Posts generic via filter on wp_trim_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":124351,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-124627","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Tinubu Applauds $1.126 Billion Financing for Lagos\u2013Calabar Coastal Highway - Pointblank News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pointblanknews.com\/pbn\/news\/tinubu-applauds-1-126-billion-financing-for-lagos-calabar-coastal-highway\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tinubu Applauds $1.126 Billion Financing for Lagos\u2013Calabar Coastal Highway - Pointblank News\" \/>\n<meta property=\"og:description\" content=\"By Lizzy Chirkpi President Bola Tinubu has commended the Federal Ministry of Finance for securing USD 1.126 billion in financing for Phase 1, Section 2 of the Lagos\u2013Calabar Coastal Highway,&hellip;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/pointblanknews.com\/pbn\/news\/tinubu-applauds-1-126-billion-financing-for-lagos-calabar-coastal-highway\/\" \/>\n<meta property=\"og:site_name\" content=\"Pointblank News\" \/>\n<meta property=\"article:published_time\" content=\"2025-12-27T09:32:50+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2025\/12\/Tinubu-vows-Nigeria-will-defeat-terrorism-swears-in-two-new-ministers-as-FG-reaffirms-stability-and-unity-amid-challenges.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"695\" \/>\n\t<meta property=\"og:image:height\" content=\"399\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Our Reporter\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Our Reporter\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/pointblanknews.com\/pbn\/news\/tinubu-applauds-1-126-billion-financing-for-lagos-calabar-coastal-highway\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/pointblanknews.com\/pbn\/news\/tinubu-applauds-1-126-billion-financing-for-lagos-calabar-coastal-highway\/\"},\"author\":{\"name\":\"Our Reporter\",\"@id\":\"https:\/\/pointblanknews.com\/pbn\/#\/schema\/person\/ba61acbe7e8967bcf3f3ba603d9db23c\"},\"headline\":\"Tinubu Applauds $1.126 Billion Financing for Lagos\u2013Calabar Coastal Highway\",\"datePublished\":\"2025-12-27T09:32:50+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/pointblanknews.com\/pbn\/news\/tinubu-applauds-1-126-billion-financing-for-lagos-calabar-coastal-highway\/\"},\"wordCount\":453,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/pointblanknews.com\/pbn\/news\/tinubu-applauds-1-126-billion-financing-for-lagos-calabar-coastal-highway\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2025\/12\/Tinubu-vows-Nigeria-will-defeat-terrorism-swears-in-two-new-ministers-as-FG-reaffirms-stability-and-unity-amid-challenges.jpg\",\"articleSection\":[\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/pointblanknews.com\/pbn\/news\/tinubu-applauds-1-126-billion-financing-for-lagos-calabar-coastal-highway\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/pointblanknews.com\/pbn\/news\/tinubu-applauds-1-126-billion-financing-for-lagos-calabar-coastal-highway\/\",\"url\":\"https:\/\/pointblanknews.com\/pbn\/news\/tinubu-applauds-1-126-billion-financing-for-lagos-calabar-coastal-highway\/\",\"name\":\"Tinubu Applauds $1.126 Billion Financing for Lagos\u2013Calabar Coastal Highway - Pointblank News\",\"isPartOf\":{\"@id\":\"https:\/\/pointblanknews.com\/pbn\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/pointblanknews.com\/pbn\/news\/tinubu-applauds-1-126-billion-financing-for-lagos-calabar-coastal-highway\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/pointblanknews.com\/pbn\/news\/tinubu-applauds-1-126-billion-financing-for-lagos-calabar-coastal-highway\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2025\/12\/Tinubu-vows-Nigeria-will-defeat-terrorism-swears-in-two-new-ministers-as-FG-reaffirms-stability-and-unity-amid-challenges.jpg\",\"datePublished\":\"2025-12-27T09:32:50+00:00\",\"author\":{\"@id\":\"https:\/\/pointblanknews.com\/pbn\/#\/schema\/person\/ba61acbe7e8967bcf3f3ba603d9db23c\"},\"breadcrumb\":{\"@id\":\"https:\/\/pointblanknews.com\/pbn\/news\/tinubu-applauds-1-126-billion-financing-for-lagos-calabar-coastal-highway\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/pointblanknews.com\/pbn\/news\/tinubu-applauds-1-126-billion-financing-for-lagos-calabar-coastal-highway\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/pointblanknews.com\/pbn\/news\/tinubu-applauds-1-126-billion-financing-for-lagos-calabar-coastal-highway\/#primaryimage\",\"url\":\"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2025\/12\/Tinubu-vows-Nigeria-will-defeat-terrorism-swears-in-two-new-ministers-as-FG-reaffirms-stability-and-unity-amid-challenges.jpg\",\"contentUrl\":\"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2025\/12\/Tinubu-vows-Nigeria-will-defeat-terrorism-swears-in-two-new-ministers-as-FG-reaffirms-stability-and-unity-amid-challenges.jpg\",\"width\":695,\"height\":399},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/pointblanknews.com\/pbn\/news\/tinubu-applauds-1-126-billion-financing-for-lagos-calabar-coastal-highway\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/pointblanknews.com\/pbn\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Tinubu Applauds $1.126 Billion Financing for Lagos\u2013Calabar Coastal Highway\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/pointblanknews.com\/pbn\/#website\",\"url\":\"https:\/\/pointblanknews.com\/pbn\/\",\"name\":\"Pointblank News\",\"description\":\"Just the news\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/pointblanknews.com\/pbn\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/pointblanknews.com\/pbn\/#\/schema\/person\/ba61acbe7e8967bcf3f3ba603d9db23c\",\"name\":\"Our Reporter\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/pointblanknews.com\/pbn\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/83b3820ef93d502ae3a617b2c881ca42?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/83b3820ef93d502ae3a617b2c881ca42?s=96&d=mm&r=g\",\"caption\":\"Our Reporter\"},\"url\":\"https:\/\/pointblanknews.com\/pbn\/author\/admin\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Tinubu Applauds $1.126 Billion Financing for Lagos\u2013Calabar Coastal Highway - Pointblank News","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/pointblanknews.com\/pbn\/news\/tinubu-applauds-1-126-billion-financing-for-lagos-calabar-coastal-highway\/","og_locale":"en_US","og_type":"article","og_title":"Tinubu Applauds $1.126 Billion Financing for Lagos\u2013Calabar Coastal Highway - Pointblank News","og_description":"By Lizzy Chirkpi President Bola Tinubu has commended the Federal Ministry of Finance for securing USD 1.126 billion in financing for Phase 1, Section 2 of the Lagos\u2013Calabar Coastal Highway,&hellip;","og_url":"https:\/\/pointblanknews.com\/pbn\/news\/tinubu-applauds-1-126-billion-financing-for-lagos-calabar-coastal-highway\/","og_site_name":"Pointblank News","article_published_time":"2025-12-27T09:32:50+00:00","og_image":[{"width":695,"height":399,"url":"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2025\/12\/Tinubu-vows-Nigeria-will-defeat-terrorism-swears-in-two-new-ministers-as-FG-reaffirms-stability-and-unity-amid-challenges.jpg","type":"image\/jpeg"}],"author":"Our Reporter","twitter_misc":{"Written by":"Our Reporter","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/pointblanknews.com\/pbn\/news\/tinubu-applauds-1-126-billion-financing-for-lagos-calabar-coastal-highway\/#article","isPartOf":{"@id":"https:\/\/pointblanknews.com\/pbn\/news\/tinubu-applauds-1-126-billion-financing-for-lagos-calabar-coastal-highway\/"},"author":{"name":"Our Reporter","@id":"https:\/\/pointblanknews.com\/pbn\/#\/schema\/person\/ba61acbe7e8967bcf3f3ba603d9db23c"},"headline":"Tinubu Applauds $1.126 Billion Financing for Lagos\u2013Calabar Coastal Highway","datePublished":"2025-12-27T09:32:50+00:00","mainEntityOfPage":{"@id":"https:\/\/pointblanknews.com\/pbn\/news\/tinubu-applauds-1-126-billion-financing-for-lagos-calabar-coastal-highway\/"},"wordCount":453,"commentCount":0,"image":{"@id":"https:\/\/pointblanknews.com\/pbn\/news\/tinubu-applauds-1-126-billion-financing-for-lagos-calabar-coastal-highway\/#primaryimage"},"thumbnailUrl":"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2025\/12\/Tinubu-vows-Nigeria-will-defeat-terrorism-swears-in-two-new-ministers-as-FG-reaffirms-stability-and-unity-amid-challenges.jpg","articleSection":["News"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/pointblanknews.com\/pbn\/news\/tinubu-applauds-1-126-billion-financing-for-lagos-calabar-coastal-highway\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/pointblanknews.com\/pbn\/news\/tinubu-applauds-1-126-billion-financing-for-lagos-calabar-coastal-highway\/","url":"https:\/\/pointblanknews.com\/pbn\/news\/tinubu-applauds-1-126-billion-financing-for-lagos-calabar-coastal-highway\/","name":"Tinubu Applauds $1.126 Billion Financing for Lagos\u2013Calabar Coastal Highway - Pointblank News","isPartOf":{"@id":"https:\/\/pointblanknews.com\/pbn\/#website"},"primaryImageOfPage":{"@id":"https:\/\/pointblanknews.com\/pbn\/news\/tinubu-applauds-1-126-billion-financing-for-lagos-calabar-coastal-highway\/#primaryimage"},"image":{"@id":"https:\/\/pointblanknews.com\/pbn\/news\/tinubu-applauds-1-126-billion-financing-for-lagos-calabar-coastal-highway\/#primaryimage"},"thumbnailUrl":"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2025\/12\/Tinubu-vows-Nigeria-will-defeat-terrorism-swears-in-two-new-ministers-as-FG-reaffirms-stability-and-unity-amid-challenges.jpg","datePublished":"2025-12-27T09:32:50+00:00","author":{"@id":"https:\/\/pointblanknews.com\/pbn\/#\/schema\/person\/ba61acbe7e8967bcf3f3ba603d9db23c"},"breadcrumb":{"@id":"https:\/\/pointblanknews.com\/pbn\/news\/tinubu-applauds-1-126-billion-financing-for-lagos-calabar-coastal-highway\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/pointblanknews.com\/pbn\/news\/tinubu-applauds-1-126-billion-financing-for-lagos-calabar-coastal-highway\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/pointblanknews.com\/pbn\/news\/tinubu-applauds-1-126-billion-financing-for-lagos-calabar-coastal-highway\/#primaryimage","url":"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2025\/12\/Tinubu-vows-Nigeria-will-defeat-terrorism-swears-in-two-new-ministers-as-FG-reaffirms-stability-and-unity-amid-challenges.jpg","contentUrl":"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2025\/12\/Tinubu-vows-Nigeria-will-defeat-terrorism-swears-in-two-new-ministers-as-FG-reaffirms-stability-and-unity-amid-challenges.jpg","width":695,"height":399},{"@type":"BreadcrumbList","@id":"https:\/\/pointblanknews.com\/pbn\/news\/tinubu-applauds-1-126-billion-financing-for-lagos-calabar-coastal-highway\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/pointblanknews.com\/pbn\/"},{"@type":"ListItem","position":2,"name":"Tinubu Applauds $1.126 Billion Financing for Lagos\u2013Calabar Coastal Highway"}]},{"@type":"WebSite","@id":"https:\/\/pointblanknews.com\/pbn\/#website","url":"https:\/\/pointblanknews.com\/pbn\/","name":"Pointblank News","description":"Just the news","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/pointblanknews.com\/pbn\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/pointblanknews.com\/pbn\/#\/schema\/person\/ba61acbe7e8967bcf3f3ba603d9db23c","name":"Our Reporter","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/pointblanknews.com\/pbn\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/83b3820ef93d502ae3a617b2c881ca42?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/83b3820ef93d502ae3a617b2c881ca42?s=96&d=mm&r=g","caption":"Our Reporter"},"url":"https:\/\/pointblanknews.com\/pbn\/author\/admin\/"}]}},"_links":{"self":[{"href":"https:\/\/pointblanknews.com\/pbn\/wp-json\/wp\/v2\/posts\/124627","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pointblanknews.com\/pbn\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pointblanknews.com\/pbn\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pointblanknews.com\/pbn\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/pointblanknews.com\/pbn\/wp-json\/wp\/v2\/comments?post=124627"}],"version-history":[{"count":1,"href":"https:\/\/pointblanknews.com\/pbn\/wp-json\/wp\/v2\/posts\/124627\/revisions"}],"predecessor-version":[{"id":124628,"href":"https:\/\/pointblanknews.com\/pbn\/wp-json\/wp\/v2\/posts\/124627\/revisions\/124628"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pointblanknews.com\/pbn\/wp-json\/wp\/v2\/media\/124351"}],"wp:attachment":[{"href":"https:\/\/pointblanknews.com\/pbn\/wp-json\/wp\/v2\/media?parent=124627"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pointblanknews.com\/pbn\/wp-json\/wp\/v2\/categories?post=124627"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pointblanknews.com\/pbn\/wp-json\/wp\/v2\/tags?post=124627"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}