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$100m earmarked for 47.7km stretch of coastal road in Lagos.
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Project links 9 states, improves access to ports and agro-industrial zones.
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EBID’s total financial commitments in West Africa now exceed $5bn.
The ECOWAS Bank for Investment and Development (EBID) has approved $100 million in funding for the construction of a 47.7-kilometre stretch of the Lagos-Calabar Coastal Highway, a flagship infrastructure project in Nigeria.
Designated Section 1, Phase 1, the road starts from Ahmadu Bello Way in Lagos and is being executed by Hitech Construction Company Limited. Construction began in March 2024.
The approval was announced at EBID’s 92nd ordinary session in Lagos, where the bank disclosed that it had allocated €174 million and $125 million for infrastructure and social development projects across West Africa.
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Regional Impact
EBID said the Lagos-Calabar highway project is expected to improve access across nine Nigerian states, connect seaports and remote agro-industrial zones, and facilitate the efficient movement of goods and services along Nigeria’s southern economic corridor.
“This project will contribute to the emergence of a regional value chain that supports the livelihoods of coastal communities,” EBID stated.
Other Approved Projects
In addition to the highway, EBID announced several investments across West Africa:
- €50m for six technical and vocational education centres in Togo.
- €28.9m to modernise four agricultural schools in Guinea.
- €95.16m for three hydroelectric micro-power stations in Guinea.
- $25m to support cement production in Côte d’Ivoire.
With this latest round of approvals, EBID’s total commitments in West Africa have exceeded $5 billion.
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What You Should Know
Nigeria’s Minister of Works, Senator David Umahi, disclosed that the Federal Government has procured over ₦3 trillion worth of contracts for sections of the Lagos-Calabar highway.
- Section I (Lagos): ₦1.068 trillion, with 30% disbursed.
- Section II (linking Dangote Refinery): ₦1.6 trillion.
- Sections III A & B (Akwa Ibom and Cross River): ₦1.33 trillion.
President Bola Tinubu commissioned the first completed section of the coastal highway in May 2025.
