The Federal Government has raised the compensation for property owners affected by Section 1 of the Lagos-Calabar Coastal Highway project, increasing the amount from an initial N8 billion to approximately N18 billion.
The announcement was made by the Minister of Works, Senator Dave Umahi, at a stakeholder engagement in Lagos, where discussions focused on concerns surrounding the compensation process, among other issues, as reported by the News Agency of Nigeria (NAN) on Sunday.
Umahi explained that while the Federal Executive Council initially approved N8 billion, further assessments by independent experts justified the increase to ensure equitable treatment for affected citizens.
“The Federal Executive Council initially approved N8 billion for this corridor, but today we are hitting N18 billion, and this is just for section one,” Umahi explained.
The Minister of Works further revealed that half of the compensation has already been paid to affected individuals and promised to complete all payments within the next 10 days.
(Nairametrics)
