ECOWAS Bank for Investment and Development (EBID) has approved $100 million for Lagos-Calabar coastal highway project.
Gatekeepers News reports that this is part of the broader financing package announced during its 92nd ordinary session on June 30, 2025.
The project, which began in March 2024, covers a 47.47 km stretch of dual carriageway awarded to Hitech Construction Company Ltd.
EBID said the road will connect nine Nigerian states, enhance access to seaports and agro-industrial zones, and support regional value chain development.
In total, the bank approved €174 million and $125 million to support infrastructure and industrial projects across West Africa.
These include €50 million for six vocational training centres in Togo, $25 million for cement production in Côte d’Ivoire, €28.9 million to upgrade agricultural high schools in Guinea, and €95.16 million to build three hydroelectric micro-power stations in Guinea.
EBID stated that these investments align with key UN Sustainable Development Goals (SDGs) such as quality education, clean energy, and infrastructure.
With the new approvals, the bank’s total commitments in the subregion have surpassed $5 billion, reflecting its mission to foster inclusive and sustainable growth in ECOWAS member states.
