Lagos-Calabar Coastal Highway Spurs Massive Land Price Surge and Unlocks New Investment Opportunities Along Lagos-Calabar Axis
Over the past year, land prices along the ambitious 700-kilometre Lagos-Calabar Coastal Highway have skyrocketed dramatically, fueled by the rapid progress toward completing Phase 1 of this transformative infrastructure project. This phase, spanning 47.47 kilometres from Ahmadu Bello Way in Victoria Island, Lagos, to the Lekki area near the Deep Sea Port and Dangote Refinery, is set for completion by May 29, 2025. This development is opening unprecedented investment opportunities for both local and international investors, including banks, oil companies, petroleum service providers, educational institutions, and more.
A Surge in Land Value: A Golden Chance for Lagos Investors and Property Buyers
The areas around the Lekki Free Trade Zone, Eleko, and Ibeju-Lekki have witnessed extraordinary appreciation in land value. Strategic industrial and commercial developments such as the Dangote Refinery and Lekki Deep Sea Port are major drivers, but the passing of the coastal highway through these zones has injected new momentum. According to Ololarenwaju Kuyebi, Managing Director of GMH Luxury, land values in Ibeju Lekki alone have surged by over 200% in the last twelve months. Investors who bought plots for around N1.5 million are now seeing values exceeding N3 million per plot.
This explosive growth reflects the anticipation that once completed, the coastal road will reduce travel time significantly — potentially enabling a drive from Ibeju Lekki to Victoria Island in under an hour. For investors seeking to buy land near the airport or coastal highway, this is a rare and lucrative window to capitalize on anticipated urban expansion and economic vibrancy.
Why Investors, Banks, and International Stakeholders Should Take Notice
The coastal highway promises to seamlessly connect bustling cities and emerging towns along Nigeria’s coastline. This increased connectivity is expected to fuel population growth, elevate real estate demand, and attract major commercial activities including retail malls, luxury residential estates, office complexes, and industrial hubs.
Peter Oyedepo, a Lagos-based realtor, highlights the wide-ranging benefits, emphasizing how the road will boost tourism by linking pristine beaches, cultural landmarks, and forest reserves. For international investors and petroleum companies, this translates into fertile ground for developing resorts, hotels, vacation rentals, and service stations—capitalizing on the steady flow of business and leisure travelers.
Banks can tap into this vibrant corridor by financing housing developments, commercial real estate, and local businesses, while schools and educational institutions will find growing demand as families relocate to these accessible, thriving communities.
The Federal Government’s Strategic Moves: Tolling, Solar Power, and Tourism Development
The Nigerian government is also vigorously positioning itself to harness the economic potential of this mega-project. Minister of Works, David Umahi, recently confirmed plans to establish tolling stations and construct tourist centers along the coastal highway, ensuring continuous revenue streams while promoting regional development. The entire 700-kilometre stretch is slated for completion within eight years, backed by a $12 billion investment.
Innovative features of the highway include solar-powered lighting for safer night travel and flyovers designed to alleviate traffic congestion, enhancing ease of movement for commuters and freight alike. Land parcels along the corridor have already been earmarked for tourism, industrial estates, factories, and housing projects, painting a comprehensive picture of a modern economic corridor.
Economic Advantages of Owning Property or Businesses Along the Lagos-Calabar Coastal Highway
Owning land or businesses near this fast-emerging highway represents a strategic economic advantage:
- High Capital Appreciation: Early entrants stand to benefit from robust asset appreciation driven by infrastructural upgrades and urbanization.
- Enhanced Accessibility: Seamless transport links reduce logistics costs and improve customer access.
- Growing Demand: Both residential and commercial real estate will experience increased demand spurred by population growth.
- Tourism and Hospitality Growth: Proximity to natural attractions primes properties for hotel and resort development.
- Business Synergies: Industrial and commercial zones attract ancillary businesses, creating a thriving ecosystem.
For international investors, banks, oil companies, petroleum station operators, and educational institutions, this corridor offers an unmatched opportunity to gain a foothold in Nigeria’s evolving economic landscape.
Conclusion on Lagos-Calabar Coastal Highway
The Lagos-Calabar Coastal Highway is more than just a road — it is a transformative artery set to reshape Nigeria’s economic and social terrain. With land prices surging, infrastructure support from the federal government, and diverse investment prospects along the highway, now is the ideal time to buy land near the coastal highway or invest in properties in Nigeria’s most promising corridor.
Whether you are a local investor seeking to capitalize on booming property values or an international stakeholder looking for promising real estate, industrial, or tourism ventures, the Lagos-Calabar Coastal Road is the destination where your investment can thrive and multiply.
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