President Bola Ahmed Tinubu has formally requested the House of Representatives to amend the Federal Government’s External Borrowing Plan for the 2025–2026 period, seeking an additional $47 million for the Lagos-Calabar Coastal Highway project. This proposed adjustment would raise the total funding for the project from $700 million to $747 million.

The President’s request, conveyed through a letter signed by Minister of Finance Wale Edun and presented to the House by Speaker Abbas Tajudeen, underscores the strategic importance of the highway project and the need for additional financing to ensure its timely completion.

In a related development, the borrowing plan also includes a $300 million provision for the Nigeria Universal Communication Access Project. This initiative is aimed at expanding mobile network coverage to over 21 million Nigerians in 4,834 unconnected and underserved communities. The project will be executed through the deployment of 7,000 telecommunication towers, significantly improving digital inclusion and connectivity in remote areas.