The ECOWAS Bank for Investment and Development (EBID) has approved $100 million to support the construction of a 47.7-kilometre stretch of Nigeria’s Lagos-Calabar Coastal Highway. This portion of the road, identified as Section I, Phase I, begins from Ahmadu Bello Way in Lagos and is being executed by Hitech Construction Company Limited. Construction commenced in March 2024.
The funding was announced during EBID’s 92nd ordinary session in Lagos, where the bank revealed a broader allocation of €174 million and $125 million for infrastructure and social development projects across West Africa. According to the News Agency of Nigeria (NAN), the Lagos-Calabar highway is among the key projects financed under this round of approvals.
EBID said the highway project is designed to enhance connectivity across nine Nigerian states, linking seaports and remote agro-industrial zones. It is also expected to boost the southern economic corridor, streamline the movement of goods and services, and support a regional value chain that strengthens the livelihoods of coastal communities.
The bank emphasized that the project aligns with the United Nations Sustainable Development Goals, especially SDG 9, which focuses on Industry, Innovation, and Infrastructure.
Beyond Nigeria, EBID approved several regional projects:
In Togo, €50 million will go into building and equipping six technical and vocational education centres expected to train 3,480 young people annually in in-demand technical skills.
In Guinea, €28.9 million will support the modernisation of four agricultural high schools, while €95.16 million has been earmarked for the construction of three hydroelectric micro-power stations with a combined output of 30 megawatts. These stations aim to expand renewable energy access in rural areas.
In Côte d’Ivoire, $25 million has been approved to finance clinker imports by Société de Ciment de Côte d’Ivoire, with the goal of supporting cement production and addressing raw material shortages in the construction industry.
With these approvals, EBID’s cumulative investment commitments in West Africa have now surpassed $5 billion.
In Nigeria, the Lagos-Calabar Coastal Highway continues to attract significant financial backing from both domestic and international sources. The country’s Minister of Works recently disclosed that the Federal Government has awarded contracts worth over N3 trillion for various segments of the highway, which runs through Lagos, Akwa Ibom, and Cross River States.
Section I, starting in Lagos, was procured at N1.068 trillion, with 30% of the contract value already paid out. Section II, which includes flyovers and swamp-crossing routes leading toward the Dangote Refinery, was awarded at N1.6 trillion. Sections III A and III B, covering Akwa Ibom and Cross River, were jointly procured at N1.33 trillion.
President Bola Tinubu commissioned the first completed section of the highway in May 2025, marking a milestone in Nigeria’s ambitious infrastructure drive.
