ECOWAS Bank approves $100m for Lagos-Calabar highway construction

The ECOWAS Bank for Investment and Development (EBID) has approved a $100 million facility to support the development of a key portion of the Lagos-Calabar Coastal Highway, a major infrastructure project aimed at enhancing regional connectivity in Nigeria.

The funding is directed toward the first phase of the project—Section 1, Phase 1—spanning 47.7 kilometers from Ahmadu Bello Way in Lagos. Construction work on this segment commenced in March 2024, with Hitech Construction Company Limited serving as the contractor.

This financial commitment was part of EBID’s 92nd Ordinary Session, where the bank announced a combined €174 million and $125 million in support of various infrastructure and social initiatives across West Africa.

According to a report from the June 30 board meeting obtained by our correspondent, the bank highlighted the strategic importance of the Lagos-Calabar road in fostering economic integration and mobility.

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EBID explained that the funding would enhance transport access across nine Nigerian states, boost connections to ports and agricultural zones, and improve supply chains along the southern corridor. It also emphasized the highway’s potential in strengthening livelihoods in coastal communities through the creation of a regional value chain.

“A $100m Lagos-Calabar coastal motorway project, in the Federal Republic of Nigeria. This project, which spans 47.7km, will link nine Nigerian states, improve access to seaports and isolated agro-industrial areas, and contribute to the emergence of a regional value chain to help coastal communities,” the report read.

Other financial approvals from the same session include €50 million for building and outfitting six technical and vocational education centers in Togo, projected to train nearly 3,500 young people annually in critical skill areas.

In Guinea, EBID pledged €28.9 million for the upgrade of four agricultural technical schools and an additional €95.16 million to construct three hydroelectric microstations with a total output of 30MW. These efforts are geared toward expanding rural access to clean energy.

Meanwhile, in Côte d’Ivoire, a $25 million package was approved to facilitate clinker imports for Société de Ciment de Côte d’Ivoire, aiming to alleviate raw material shortages in the construction industry.

The bank said the latest investments are aligned with the United Nations Sustainable Development Goals (SDGs), notably SDG 4 (Quality Education), SDG 7 (Affordable and Clean Energy), and SDG 9 (Industry, Innovation and Infrastructure).

“These newly approved commitments are aligned with the United Nations Sustainable Development Goals, in particular SDG 4 – Quality Education, SDG 7 – Affordable and Clean Energy and SDG 9 – Industry, Innovation and Infrastructure, as well as EBID’s strategic plan to promote resilient, inclusive and sustainable growth and development in the ECOWAS region. With this investment, EBID’s total commitments to date in the sub-region amount to over $5bn,” it stated.

The Lagos-Calabar Coastal Highway project was launched in March 2024. According to recent disclosures by Minister of Works David Umahi, contracts valued at more than N3 trillion have been awarded for various sections of the road traversing Lagos, Akwa Ibom, and Cross River States.

Section I, which begins in Lagos, was procured at N1.068tn, with 30 per cent of the contract sum already disbursed. Section II, which includes several flyovers and crosses swampy terrain linking to the Dangote Refinery, was awarded at N1.6tn.

Additionally, Sections III A and III B, covering the Akwa Ibom and Cross River segments, were jointly procured at N1.33tn. President Bola Tinubu had in May 2025 commissioned the first completed section of the Lagos-Calabar Coastal Highway.

(PUNCH)