The ECOWAS Bank for Investment and Development (EBID) has approved $100 million in funding for the construction of the Lagos-Calabar Coastal Highway, as part of a broader financing package aimed at strengthening infrastructure and boosting regional trade within West Africa.
The approval was granted during the Bank’s 92nd Ordinary Session of the Board of Directors, which held in Lagos on Tuesday, July 2, 2025.
According to a statement released by the Bank, the $100 million support will go into the development of Section 1, Phase 1 of the Lagos-Calabar Highway project, which covers approximately 47.7 kilometres stretching from Ahmadu Bello Way in Lagos.
The section is being developed by Hitech Construction Company Limited, and is designed to improve access to seaports and agro-industrial areas, while linking nine states across Nigeria’s coastal corridor.
In its official communication, EBID stated: “The bank also approved a $100 million funding for the Lagos-Calabar coastal motorway project, in the Federal Republic of Nigeria, in order to link nine Nigerian states, improve access to seaports and isolated agro-industrial areas. EBID noted the funding would also contribute to the emergence of a regional value chain to help coastal communities.”
The highway is expected to not only ease travel between Nigeria’s coastal cities but also bolster ECOWAS regional integration objectives by enhancing physical connectivity and supporting intra-African trade.
The Lagos-Calabar Coastal Highway has been described by Nigerian authorities as one of the country’s most ambitious infrastructure undertakings in recent decades. Construction work commenced in March 2024, with the Federal Government noting its strategic importance to tourism, logistics, and economic development.
The EBID board’s funding for the project is part of a larger financial envelope totalling €174 million and $125 million, which will be channelled into multiple sectors across West Africa. These include technical education, energy, infrastructure development, and social investment projects.
With this latest investment, EBID continues to assert its commitment to regional economic development, industrialisation, and enhanced trade connectivity in line with its strategic development objectives.
