The ECOWAS Bank for Investment and Development (EBID) has approved a $100 million loan facility to support Nigeria’s ambitious Lagos-Calabar Coastal Highway project, signaling a strong commitment to regional infrastructure growth.
The approval was announced at the bank’s 92nd Ordinary Session held on June 30, 2025.
The highway, whose construction began in March 2024, is being handled by Hitech Construction. The first phase spans 47.7 kilometers, forming part of a larger coastal corridor expected to link nine Nigerian states, improve port access, connect agricultural zones, and stimulate intra-regional trade in West Africa.
More Funding for West Africa
In the same session, EBID also approved funding for multiple development projects across the region: €50 million for vocational training centres in Togo$25 million to boost cement production in Côte d’Ivoire
Over €120 million for youth employment and renewable energy projects in Guinea
According to EBID, these initiatives are part of its broader strategy aligned with the United Nations Sustainable Development Goals (SDGs)—specifically goals relating to infrastructure, education, clean energy, and decent work.
“Our investments are targeted at inclusive and sustainable development across West Africa,” the bank said in a statement.
With these approvals, EBID’s total commitments in the subregion have now exceeded $5 billion.
About the Lagos-Calabar Coastal Highway
The Lagos-Calabar Coastal Highway is one of Nigeria’s most ambitious infrastructure projects in recent years.
When fully completed, it is expected to:
Link key coastal cities and communitiesBoost tourism, logistics, and agro-industrial value chains
Reduce travel time and road congestion
Support the African Continental Free Trade Area (AfCFTA) objectives
The Federal government sees the project as a catalyst for national and regional economic integration, especially in synergy with ECOWAS’ development priorities.