Lagos, Nigeria – The ECOWAS Bank for Investment and Development has approved a total of $266.7 million for strategic projects across West Africa, with $100 million earmarked for the Lagos–Calabar Coastal Highway in Nigeria.
Okay News reports that the approval was disclosed in a statement published on the Bank’s website on April 2, following its 95th Board of Directors meeting held on March 30. In Nigeria, the Bank also approved $50 million for the construction of waste management facilities in Lagos, aimed at improving recycling capacity and reducing environmental risks. An additional $91.63 million was approved for transport infrastructure development in Bauchi State.
EBID President George Agyekum Donkor stated that these interventions reflect the Bank’s ambition to support member states in structuring value-creating projects aligned with the Sustainable Development Goals. He noted that investing in infrastructure, agro-industry, environmental management, and industrial transformation strengthens the foundations of a more resilient and integrated growth trajectory within West Africa.
Beyond Nigeria, Senegal secured a credit line to support SMEs and industrial growth, while Côte d’Ivoire received financing to boost small business lending. Ghana approved $15 million for a tissue paper manufacturing plant to reduce import dependence, and The Gambia received $10.04 million to expand poultry and dairy operations for food security.
The Lagos–Calabar Coastal Highway is a 700-kilometre superhighway expected to connect nine coastal states, with an estimated cost of N15 trillion, aimed at boosting trade and economic integration across Nigeria’s southern corridor. This regional development funding supports key infrastructure and industrial projects across West Africa.
