The ECOWAS Bank for Investment and Development (EBID) has approved $100 million in funding for the development of a 47.7-kilometre stretch of Nigeria’s Lagos-Calabar Coastal Highway.
This section, known as Section 1, Phase 1 of the project, begins in Lagos on Ahmadu Bello Way. Hitech Construction Company Limited is carrying out the construction, which started in March 2024.
According to the News Agency of Nigeria (NAN), the approval was a part of a larger set of commitments made at EBID’s 92nd ordinary session, which took place in Lagos. The bank revealed that it had allotted €174 million and $125 million for social development and infrastructure projects throughout West Africa.
According to EBID, the Lagos-Calabar highway funding aims to improve connectivity to seaports and isolated agro-industrial zones, increase access across nine Nigerian states, and enable the more effective movement of products and services along the southern economic corridor.
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A regional value chain that sustains the livelihoods of coastal communities is also anticipated to be developed with the project’s assistance.
Additionally, the bank authorised $100 million in funding for the Federal Republic of Nigeria’s Lagos-Calabar coastal road project.
A €50 million investment to build and equip six technical and vocational education facilities in Togo, which would train 3,480 young people a year in high-demand skills, is one of the other approved projects.
David Umahi, the Minister of Works, recently revealed that the Federal Government had awarded contracts totalling more than N3 trillion for parts of the Lagos-Calabar Coastal Highway that go through the states of Lagos, Akwa Ibom, and Cross River.
With thirty per cent of the contract amount already paid out, Section I, which starts in Lagos, was purchased for N1.068 trillion.
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Section II, which connects to the Dangote Refinery via several flyovers and a traversal of marshy terrain, was given N1.6 trillion.
Furthermore, the Akwa Ibom and Cross River sectors of Sections III A and III B were jointly purchased for N1.33 trillion.
The Lagos-Calabar Coastal Highway’s first completed segment was put into service by President Bola Tinubu in May 2025.
