FG to pay ₦1 billion in compensation to residents affected by the Lagos–Calabar Coastal Highway in Cross River

The Federal Government has commenced the disbursement of ₦1 billion in compensation to residents of Cross River State whose homes, farmlands, and commercial structures fall within the right-of-way of the Lagos–Calabar Coastal Highway. The payment marks a critical phase of the long-awaited 750-kilometre corridor, designed to strengthen national connectivity and stimulate economic development across coastal states.

The Lagos State Government has reaffirmed that the development of new towns is now a central component of its long-term spatial and economic planning strategy, as the state confronts rapid population growth, limited land availability, and increasing strain on urban infrastructure. Dr Oluyinka Olumide, Commissioner for Physical Planning and Urban Development, disclosed this at the UPDC 4th Annual Real Estate Summit in Lagos, where policymakers and industry leaders assessed emerging solutions for the megacity’s future.

Enugu State’s 2026 budget proposal, valued at ₦1.62 trillion and presented by Governor Peter Mbah to the State House of Assembly, outlines one of the most ambitious infrastructure investment plans in the state’s history. The budget prioritises capital expenditure, dedicating approximately 80 percent to projects intended to accelerate economic expansion, stimulate real estate development, and enhance connectivity across the state.

Lagos State has emerged as the highest-performing state in Nigeria’s 2025 Subnational Ease of Doing Business Report, achieving an 85.6% score, according to the Presidential Enabling Business Environment Council (PEBEC). Kaduna followed in second place with 65.1%, while Oyo, the Federal Capital Territory (FCT), and Ogun completed the top 5.

Why It Matters: This signal shows that Lagos is strengthening its position as Nigeria’s most attractive environment for business and investment heading into 2025. By topping the Ease of Doing Business ranking, the state demonstrates gains in infrastructure, electricity reliability, digital service delivery, taxation efficiency, land administration, and investor support.

Nigeria’s external reserves have crossed the $45 billion threshold, reaching $45.04 billion, according to the latest data from the Central Bank of Nigeria (CBN). This milestone reflects a significant accumulation of foreign exchange buffers, positioning the country in its strongest external reserve standing since 2019.

Why It Matters: Nigeria’s external reserves surpassing 45 billion dollars for the first time in six years is a significant signal of improved economic stability and stronger foreign-exchange capacity. Higher reserves give the Central Bank more room to stabilise the naira, manage external shocks, finance imports, and meet foreign obligations without putting pressure on the currency.

Diversifying is one of the most important investment strategies, especially in markets that move with economic cycles. The most successful real estate investors do not rely on a single asset, location, or income stream. They understand economic signals, watch liquidity conditions, track policy shifts, and adjust their exposure accordingly. Diversification helps reduce concentration risk, protects portfolios during periods of volatility, and positions investors to benefit when different segments of the market recover at different times. In a landscape where interest rates, currency movements, and construction costs can change quickly, spreading risk is not just smart, it is essential for long-term resilience.

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_{^{Produced by: Amarachi Okeke}}