\u200bHe said these projects, alongside investments in healthcare, education, and vocational training, would connect economic regions, reduce logistics costs, unlock agricultural and industrial potential, and attract private investment.\n<\/p>\n
\u200bBoosting economic growth and job creation<\/h3>\n
\u200bThe Lagos-Calabar Coastal Highway is expected to cut logistics costs along its corridor by 15% to 20% and could add up to 2% to Nigeria\u2019s GDP through expanded trade, tourism, and industrial activity.\n<\/p>\n
\u200bThe project is also projected to generate about 100,000 direct jobs in construction and engineering, alongside more than 150,000 indirect jobs in logistics, materials, and related services.\n<\/p>\n
\u200b\u201dWe are not simply building highways. We are opening economic corridors, connecting markets, unlocking industries and reshaping Nigeria\u2019s economic geography,\u201d said President Tinubu.\n<\/p>\n
\u200bTargeting a USD1 trillion economy<\/h3>\n
\u200bHe stated that the administration\u2019s ambition to build a USD1 trillion economy by 2030 would require sustained infrastructure investment to support higher productivity, industrialisation, and trade.<\/p>\n
\u200b\u201dWe cannot build a USD 1 trillion economy with infrastructure designed for an economy a fraction of that size,\u201d said President Tinubu.\n<\/p>\n
\u200bHe wrote that improving economic indicators and growing international investor confidence are creating opportunities for Nigeria to attract long-term investment and expand critical infrastructure.\n<\/p>\n
Read also:\u00a0Nigeria\u2019s debt is the new oil curse: A crisis of leadership!<\/a><\/strong>\n<\/p>\n \u200bThe President said the economic reforms introduced in May 2023 helped restore macroeconomic stability, strengthen public finances, and improve the country\u2019s standing in international financial markets.\n<\/p>\n \u200bReal Gross Domestic Product growth reached 4.43% in the second quarter of 2026, while headline inflation fell to 14.63% in September from 20.98% a year earlier.<\/p>\n \u200bGross external reserves rose to USD 55.1bn as of October 9, 2026, including about USD 46bn in net reserves, while the tax-to-GDP ratio increased from 7% to 12.5%.\n<\/p>\n \u200bThe President attributed these improvements to measures including the removal of petrol subsidies, exchange rate unification, tax reforms, and coordinated efforts to tackle inflation.\n<\/p>\n \u200bPresident Tinubu outlined five priorities for the next phase of the Federal Executive Council\u2019s economic strategy: \u200bFood affordability and energy price stability; Budget harmonisation and fiscal discipline; and \u200bCompletion of high-impact projects and investment in critical infrastructure. Others include \u200ban improved economic policy framework and regulatory efficiency, and \u200bTargeted household support alongside investment in human development.\n<\/p>\n \u200b\u201dSecuring financing is not the achievement. Completing the project, delivering value and improving the lives of Nigerians is the achievement,\u201d said President Tinubu.\n<\/p>\n Source: <\/p>\n President Bola Tinubu has highlighted the Lagos-Calabar Coastal Highway, Sokoto-Badagry Superhighway, Trans-Sahara Superhighway, electricity grid upgrades, and the modernisation of key commercial ports in Lagos as some of the deliverables… <\/p>\n","protected":false},"author":1,"featured_media":3574,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-3573","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts\/3573","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/comments?post=3573"}],"version-history":[{"count":0,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts\/3573\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/media\/3574"}],"wp:attachment":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/media?parent=3573"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/categories?post=3573"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/tags?post=3573"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\u200bMacroeconomic stability and reform gains<\/h3>\n
\u200bStrategic priorities for future development<\/h3>\n
Related News<\/h4>\n<\/p><\/div>\n
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