Eric Patrick
The ECOWAS {Bank} for Funding and Growth (EBID) has authorised a $100 million mortgage to assist the development of a key 47.7-kilometre part of the Lagos-Calabar Coastal Freeway, a significant infrastructure venture being spearheaded by the Federal Authorities of Nigeria.
The funding approval, confirmed throughout EBID’s 92nd Strange Session held on June 30, 2025, represents a big enhance to the federal government’s plan to finish the 700km Lagos-Calabar freeway by 2028.
The funded stretch designated as Part 1, Part 1 begins at Ahmadu Bello Means in Lagos and is at the moment beneath development by Hitech Building Firm Restricted, having commenced in March 2024.
An announcement from EBID on Friday, defined that the $100 million mortgage is aimed toward enhancing transport connectivity throughout 9 Nigerian states, bettering entry to seaports, and opening up distant agro-industrial zones. The venture can also be anticipated to foster the event of regional worth chains and enhance the livelihoods of coastal communities.
“A $100m Lagos-Calabar coastal motorway venture, within the Federal Republic of Nigeria. This venture, which spans 47.7km, will hyperlink 9 Nigerian states, enhance entry to seaports and remoted agro-industrial areas, and contribute to the emergence of a regional worth chain to assist coastal communities,” the report from the session learn.
The Lagos-Calabar Freeway funding is a part of a broader bundle of economic commitments by EBID, totalling €174 million and $125 million for infrastructure and social growth tasks throughout West Africa.
Amongst different tasks authorised embody Togo: €50 million for establishing and equipping six technical and vocational schooling centres to coach 3,480 youths yearly.
Guinea: €28.9 million to modernise 4 agricultural excessive faculties, plus €95.16 million for 3 hydroelectric micro-power vegetation (30MW whole capability) to spice up rural renewable vitality entry.
Côte d’Ivoire: $25 million to assist clinker imports for the Société de Ciment de Côte d’Ivoire, serving to ease shortages within the development sector.
The {bank} famous that the tasks align with key United Nations Sustainable Growth Targets, notably SDG 4 (High quality Training), SDG 7 (Reasonably priced and Clear Power), and SDG 9 (Business, Innovation, and Infrastructure).
With the most recent approvals, EBID’s cumulative commitments within the subregion now exceed $5 billion.
“These newly authorised commitments are aligned with the United Nations Sustainable Growth Targets and EBID’s strategic plan to advertise resilient, inclusive and sustainable progress and growth within the ECOWAS area,” the report said.
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The Federal Authorities of Nigeria, in the meantime, has dedicated over N3 trillion to varied sections of the Lagos-Calabar Freeway. Minister of Works David Umahi lately disclosed that:
Part I (Lagos) was awarded at N1.068 trillion, with 30% already disbursed.
Part II, that includes flyovers and swamp crossings close to the Dangote Refinery, value N1.6 trillion.
Sections III A and III B in Akwa Ibom and Cross River have been collectively awarded at N1.33 trillion.
President Bola Tinubu commissioned the primary accomplished part of the venture in Might 2025.
Efforts to achieve Minister Umahi for official remark have been unsuccessful, as his media aide, Orji Uchenna, didn’t reply to inquiries.
