The President of the African Development Bank (AfDB), Akinwunmi Adesina, announced the mobilization of $15 billion for the construction of the Lagos-Abidjan Highway project in collaboration with various partners. He made this declaration on Friday in Abuja during the 90th birthday celebration of former Head of State, General Yakubu Gowon.
Adesina emphasized that the Lagos-Abidjan Highway corridor, managed by the Economic Community of West African States (ECOWAS), is set to handle 80% of the region’s trade. He stated that the project will significantly enhance transport connections between Nigeria and the rest of West Africa.
“The bank is mobilizing support for the development of the railway line connecting Kano to Maradi in the Niger Republic,” Adesina noted. He highlighted that AfDB has already provided $12.6 million to support a feasibility study for the Lagos-Abidjan corridor highway, adding, “As a bank, we and other institutions will help to mobilize the $15 billion necessary to finance that corridor which carries over 80% of the trade in the region.”
Adesina also outlined various AfDB investments aimed at fostering infrastructure growth in Nigeria. He mentioned that the bank has raised over $300 million for the Enugu to Cameroon project and invested over $40 million in the Lekki toll road to alleviate congestion and reduce traffic costs.
“To strongly support African social and economic growth, the African Development Bank invests heavily in infrastructure. Over the last eight years alone, we have invested over $55 billion in infrastructure,” Adesina said. This investment includes roads, highways, transport corridors, seaports, airports, ICT infrastructure, and regional power transmission networks. He noted that the bank has invested $389.3 million in the highway connecting Enugu to Bamenda in Cameroon, which will serve 11 million people.
The Lagos-Abidjan Highway project is a vital infrastructure initiative aimed at enhancing regional economic integration by linking five West African countries: Côte d’Ivoire, Ghana, Togo, Benin Republic, and Nigeria. This 1,068-kilometer highway will traverse eight border towns, starting in Lagos and ending in Abidjan, Côte d’Ivoire. The project, one of West Africa’s largest infrastructure designs, is expected to facilitate over 500,000 passengers daily and significantly boost trade, tourism, and economic activities in the region. The Lagos-Abidjan Corridor Highway is part of the broader Dakar-Lagos Corridor, one of ECOWAS’s flagship development programs, and is expected to be a key driver of regional integration.
