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• ECOWAS Bank funds 47.7-km stretch of strategic 700-km road project
• Lagos-Calabar highway seen boosting regional trade and investment
• Part of broader plan to modernize Nigeria’s transport infrastructure
Nigeria has secured a $100 million loan from the ECOWAS Bank for Investment and Development (EBID) to help finance construction of a 47.7-kilometre section of the Lagos-Calabar coastal highway, authorities said on Thursday, July 3.
The project, part of a 700-km corridor linking Lagos to southeastern states, aims to improve mobility along Nigeria’s Atlantic coast and create a regional value chain across coastal communities.
The funding follows the opening in May of the highway’s first 30-km segment. Officials said the road would ease congestion on existing routes and help attract foreign investment by reducing logistics costs in one of Africa’s largest economies.
The Lagos-Calabar highway is among four major road projects under Nigeria’s ambitious public investment plan. Other corridors include Sokoto-Badagry (1,068 km), Calabar-Abuja (482 km), and Akwanga-Jos-Bauchi-Gombe (439 km).
Authorities say the investments will accelerate the country’s transition to a more integrated multimodal transport system.
In addition to roads, Nigeria is also ramping up rail development, as existing networks struggle to meet surging demand for freight and passenger transport.
This article was initially published in French by Henoc Dossa
Edited in English by Ola Schad Akinocho
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