The president of the African Development Bank (AfDB), Akinwunmi Adesina, announced the mobilisation of $15 billion for the construction of the Lagos-Abidjan Highway project in collaboration with various partners.
Adesina emphasised that the Abidjan-Lagos Highway corridor, managed by the Economic Community of West African States (ECOWAS), is set to handle 80 per cent 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 mobilising 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 students to support a feasibility study for the Lagos-Abidjan corridor highway, adding that, “As a bank, we and other institutions will help to mobilise 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-kilometre highway will traverse eight border towns, starting in Lagos and ending in Abidjan, Côte d’Ivoire.
The project is one of West Africa’s largest infrastructure designs, and 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’ flagship development programs, and is expected to be a key driver of regional integration.
We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →
Join Our WhatsApp Channel
