The ECOWAS Bank for Investment and Development (EBID) has approved $100 million for the Lagos-Calabar Coastal Highway project to support trade and connectivity across Nigeria’s coastal corridor.
The approval was granted during the Bank’s 92nd Ordinary Session of the Board of Directors, held in Lagos on Tuesday, July 2, 2025.
According to a statement released by the Bank, the funds will support the development of approximately 47.7 kilometres of the highway, stretching from Ahmadu Bello Way in Lagos.
The section is being executed by Hitech Construction Company Limited and is aimed at improving access to seaports and isolated agro-industrial zones while linking nine coastal states across Nigeria.
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 ease travel across Nigeria’s coastal cities and support ECOWAS’ regional integration goals.
Described by Nigerian authorities as one of the country’s most ambitious infrastructure projects, construction began in March 2024 with a focus on tourism, logistics, and economic growth.
The ECOWAS Bank board’s support is part of a broader funding package of €174 million and $125 million for projects across West Africa in energy, education, infrastructure, and social development.
