The ECOWAS Bank for Investment and Development, EBID, has approved $100 million to support Nigeria’s Lagos-Calabar Coastal Highway project.
The funding was confirmed during the bank’s 92nd Ordinary Session and forms part of a broader commitment totalling €174 million and $125 million aimed at boosting industrialisation and regional economic growth.
Spanning 700 kilometres, the highway is expected to connect nine Nigerian states, improve access to seaports and remote agro-industrial zones, and stimulate coastal economic activity.
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EBID says the investment aligns with the United Nations Sustainable Development Goals—specifically those relating to infrastructure, clean energy, and education—and supports its strategic vision for inclusive and sustainable development.
With this latest approval, EBID’s total sub-regional funding commitments have now surpassed $5 billion.
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