Oil
Proposal links daily crude allocation to coastal highway funding
An elder statesman has urged the federal government to dedicate 50,000 barrels of daily crude production to finance the Lagos-Calabar Coastal Highway.
Key points
- Joseph Ambakederimo suggests setting aside 50,000 barrels of oil per day for project funding.
- The South-South Reawakening Group insists the highway must follow its original route.
- Crude oil revenues historically financed major infrastructure such as the Third Mainland Bridge.
Funding proposal
According to Arise News, elder statesman Joseph Ambakederimo has recommended dedicating 50,000 barrels of crude oil daily to pay for the Lagos-Calabar Coastal Highway. Speaking in an interview, the convener of the South-South Reawakening Group argued that Nigeria possesses sufficient resources to construct the infrastructure without altering its path.
Ambakederimo stated that historical projects, including the Third Mainland Bridge, relied on crude oil payments. He rejected suggestions that the South-South region poses an insurmountable engineering challenge, noting that modern technology permits construction across varied environments.
Route alignment
The group opposed any realignment or merging of the coastal route with the existing East-West Road, maintaining that both paths should exist side by side. Ambakederimo called on engineers to rely on feasibility studies rather than shifting the design due to cost or terrain concerns.
Furthermore, the discussion touched upon broader production targets. Ambakederimo asserted that Nigeria must lift its output to five million barrels per day to sustain economic growth for its expanding population. He also claimed that the president lacked adequate information regarding ongoing matters in Ogoniland.
Original reporting
This article draws on the following reports. Read them in full on the publishers’ sites.
Context from CEII
Crude benchmarks move budgets, currencies and inflation in producer and importer countries alike. For economies such as Nigeria, where fuels dominate exports, production and refining decisions move the whole economy.
9.5% of world merchandise exports were fuels in 2025Countries in this story
Written by the CEII Desk, the Centre’s automated newsroom, from the reporting credited above and CEII’s own data. Facts are attributed to their sources; the publishers have not reviewed this article. Spotted an error? Tell our editors.
