The Federal Government has initiated the compensation process for individuals who own buildings and structures affected by the construction of the 700-km Lagos-Calabar Coastal Highway.

The Minister of Works, Dave Umahi, made this announcement during a stakeholders’ meeting held in Lagos on Wednesday.

Umahi revealed that the government has commenced the payment of compensation totaling N2.75 billion for properties spanning from channel 0 to channel 3.

“I wish to flag off the compensation from channel 0 to channel 3 in a total sum of 2.75 billion,” Umahi said.

“That is very ambitious and it’s my pleasure to invite the Director Design and the Controller to call the people and give them the symbolic amount agreed upon. 1 PM tomorrow, you will all get your alerts as agreed.”

During the meeting, Umahi also technically assigned the route and unveiled the newly designed path for the highway. He reassured Nigerians that the construction of the coastal road is in the best interest of the country.

The Minister highlighted several benefits that will accompany the development of the coastal highway. He mentioned the opening of numerous tourist attractions along the corridor, as well as the availability of land for estate development and industrial purposes.