The ECOWAS Bank for Investment and Development (EBID) has approved a fresh $100 million credit facility for Nigeria to support the ongoing construction of the Lagos-Calabar Coastal Highway. The bank said the funds will go directly into the development of a 47.7-kilometre stretch of the massive infrastructure project, which remains one of the Nigerian government’s flagship efforts to expand transport and economic integration along the nation’s southern corridor.
The approval aligns with EBID’s mandate to support regional infrastructure that enhances connectivity and economic development across West Africa. The Lagos-Calabar project, estimated to span over 700 kilometres once completed, is expected to significantly improve trade logistics, tourism, and access between the southwest and Niger Delta regions.
