The Lagos State Government (LASG) has assured that the ongoing Lagos-Badagry Expressway Expansion project will be completed before the end of 2019. The project includes a 10-lane road expansion with a provision for rail. Speaking on this, Governor Ambode explained that despite it being awarded to Okokomaiko, the LASG was almost at financial close to give it to a concessionaire that is expected to extend the project length all the way to the Seme Border.
The completion of this project has been delayed for multiple years for a number of reasons including funding. According to the Chinese Civil Engineering Construction Company (CCECC), the main contractor for project, one of the more recent challenges that had now been resolved was the relocation of pipes and cables belonging to the Nigerian National Petroleum Corporation (NNPC).
Governor Ambode rightly expects that this investment will positively affect real estate values and boost the inherent tourism potential in the Badagry region. Though often with a small lag, there is a positive correlation with infrastructure investment and real estate values in most regions. Similar to the growth that has been seen in Eastern Lagos as a result of the Lekki Epe Expressway project, the Badagry and other surrounding regions in Western Lagos are expected to be positively affected by this investment.
Most commercial real estate investment in Lagos State are concentrated in central Lagos and the Lekki region. However, private sector projects such as the Festival Mall by UPDC in Festac, Agbara Industrial Estate by Eris Property Group and Land Afrique as well the Badagry Port by APM Terminals demonstrate that a few investors are looking further afield.