The presidential candidate of the Labour Party, Peter Obi, has tackled the Federal Government for awarding the multi-trillion naira Lagos-Calabar coastal highway project despite numerous uncompleted projects scattered across the country.
Mr Obi, in a statement on his X handle on Monday, said embarking on another huge project that will not be completed in the next 20 or 30 years would only worsen the problem of abandoned and uncompleted projects that are not contributing to economic growth and overall development.
While lamenting that the project would worsen the already sagging debt burden of the country, Mr Obi said prioritisation and fiscal discipline should be the critical guiding principles of the government.
He said,“I have closely followed the comments and developments arising from the coastal (Lagos-Calabar) Super highway Project.
“While I’m hesitant to engage in contentious debates about its benefits, which I acknowledge, and the pricing, which I have serious concerns about, and believe should be thoroughly reviewed, I am compelled to raise essential questions about the timing and prioritisation of such a monumental venture.
“At the forefront of my concerns is the pressing issue of numerous uncompleted roads scattered across the country, many of which have become hazardous death traps and security risks.
“It is disheartening to witness the plight of innocent Nigerians who traverse these dilapidated roads under perilous conditions, vulnerable to kidnappers and other dangers.
“Most of these roads, vital for economic growth, regional connectivity, and overall development, have been under construction for several years, if not decades, now and are unlikely to be completed any time soon due to poor and unplanned funding.
“The Federal Ministry of Works 2024 capital budget of N892,461,262,656.00, additional funding from multilateral loan projects of N94,828,535,243.00, alongside other expected contributions from sources like the China-Exim Bank and the World Bank, will not be enough for serious work on all the critical roads, some of which I enumerated above, let alone their completion.
“So, why embark on another huge project that will not be completed in the next 20 or 30 years? To do so will only exacerbate the problem of abandoned, uncompleted projects that are not contributing to economic growth and overall development.
“It will merely worsen our already sagging debt burden. Given the state of our economy now, prioritisation and fiscal discipline should be our critical guiding principles now.
“Therefore, while acknowledging the potential benefits of coastal superhighway infrastructure, I urge prioritisation of our existing uncompleted projects.”
