Stakeholders from southern Nigeria have identified the proposed Lagos–Calabar Coastal Road as a major infrastructure project that could significantly reshape the country’s economy and boost its Gross Domestic Product (GDP) in the coming decades.
Gatekeepers News reports that the position was reached during a high-level meeting involving the Development Agenda for Western Nigeria (DAWN) Commission and the BRACED Commission, where participants discussed investment opportunities along the planned 750-kilometre coastal corridor.
The meeting, held at Cocoa House in Dugbe, Ibadan, brought together representatives from South-West and South-South states as well as key economic stakeholders.
Experts Highlight Huge Economic Prospects
At the gathering, experts projected that if the project is properly developed, the Lagos–Calabar Coastal Highway could increase Nigeria’s GDP from its current level of under $400 billion to between $1.4 trillion and $14 trillion within the next 50 years.
Speaking at the event, Seye Oyeleye described the project as one of the most ambitious infrastructure initiatives undertaken in the country in decades.
“The biggest infrastructure programme in the last 65 years in Nigeria, which is the 750-kilometre Lagos-Calabar Coastal Road, requires structured development to avoid the mistakes of the past,” he said.
Emphasis on Regional Collaboration
Oyeleye stressed that cooperation among states located along the corridor — including Lagos, Ogun, Ondo, and the BRACED states — would be crucial to maximising the project’s benefits.
According to him, coordinated planning could lead to the development of industrial hubs, green zones and tourism clusters along the route, helping to stimulate regional growth and strengthen the national economy.
“We must ensure that the mistakes of the past, where states worked in silos and pursued individual interests, are not repeated,” he added.
He also disclosed plans to establish a joint development body to coordinate activities and planning along the corridor from the early stages.
Warning Against Poor Planning
Participants cautioned that the project could face setbacks if development along the corridor is not properly planned and governed.
Delivering a lecture on the economic outlook of the highway, Olawale Opayinka emphasised the need to protect and manage the corridor effectively.
He noted that the coastal road stretches over 700 kilometres and opens up possibilities for large-scale development across roughly 700 square kilometres of land.
“With our population expected to grow significantly over the next 50 years and our GDP currently at about $400bn, developments along that corridor could create enterprise value ranging from $1.4tn at the lower end to about $14tn at the upper end,” he said.
Opportunity to Build a Multi-Trillion-Dollar Economy
Opayinka said the project could reposition Nigeria as a major global economic force if implemented successfully.
“We are talking about moving the Nigerian economy from under $400bn today to between $1.4tn and $14tn over the next 50 years. This provides an opportunity to build a multi-trillion-dollar economy and position Nigeria among the leading economies in the world,” he stated.
However, he warned that lack of alignment among state governments could weaken the projected economic gains.
Call for Political Will and Strategic Planning
Also speaking, Joe Keshi underscored the importance of strong political commitment and coordinated planning among governments along the route.
“This is the beginning of a conversation to ensure that we plan adequately and avoid the haphazard developments that have affected many roads in Nigeria,” he said.
Keshi further noted that the long-term value of the project would depend largely on the development that follows the construction of the road.
“The road itself is only the beginning; what comes after the road is what will determine its true value to the Nigerian economy,” he noted.
Push for Integrated Development
Other participants, including government officials and industry experts, highlighted the need for proper zoning, improved security, and strong governance structures along the corridor.
They stressed that collaboration among state governments, the Federal Government and private sector investors would be key to unlocking the full economic potential of the Lagos–Calabar Coastal Road project.
