Impact of Rail and Road Infrastructure Projects
The year 2022 will witness tremendous milestone achievement in the rail transportation system in Lagos State, as we expect the 37km Red and 27.5km Blue Line Rail projects to commence commercial operations between the last quarter of this year and the first quarter of 2023.
Gov. Sanwo-Olu made this announcement at the 2022 Lagos State New Year Thanksgiving Service themed, ‘Songs of Thanksgiving’, last Sunday at the Lagos House Sports Ground, Ikeja.
Mr. Sanwo-Olu, reeled out projects in the state to be completed and those to be embarked on within the year.
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He said, “Construction work on the 38km Fourth Mainland Bridge — which will be the longest in Africa — and the Opebi-Mende Link Bridge will commence this year. Completion of the ongoing reconstruction work on the 18.75km Eleko to T-Junction in Epe, the 10km Lekki Regional Road, and the section of the Lagos-Badagry Expressway that the Lagos State Government is constructing with the permission of the federal government.”
These projects that are guaranteed to impact the development of infrastructures, technology, health, education and security of Lagosians are not all the government is up to. “These are just a handful of the projects that will be completed or advanced this year,” Sanwo-Olu said
Transport infrastructure would affect real estate values. When the Lekki-Epe Expressway was being re-constructed and transport times reached unbearable limits, estates down the expressway saw demand for plots and houses almost disappear and values were either stagnant or even dropped.
The Red and Blue Line projects are likely to do the opposite to the areas after they are open. They would reduce traffic times and stress to minimum levels, real estate in those areas will become more attractive and values will be impacted over the following years.
