The ECOWAS Bank for Investment and Development (EBID) has approved $100 million in funding for the Lagos-Calabar Coastal Highway Project, as part of a broader financing package aimed at strengthening infrastructure and boosting regional trade within West Africa.
The approval was granted during the Bank’s 92nd Ordinary Session of the Board of Directors, which held in Lagos on Tuesday, July 2, 2025.
Also read: 700-Kilometer Lagos-Calabar Highway Completion Set for January 2026
Lagos-Calabar Coastal Highway Project Factsheet
Name: Lagos-Calabar Coastal Highway
Length: Approximately 700 kilometers
Contractor: Hitech Construction Company Ltd.
Estimated overall cost: $11 billion to $12.5 billion.
Estimated completion: Expected to be completed in eight years (by 2031)
Lanes: designed as a six-lane dual carriageway within a 60-meter corridor, with a central train track
Green initiatives: Incorporates solar lights and plans for windmill energy along the coast, aiming to earn carbon credits and provide free energy to adjoining communities.
Also read: Nigeria’s FEC Approves $651.7 Million for the Construction of 7th Axial Road
Significance of the Project
According to a statement released by the Bank, the $100 million support will go into the development of Section 1, Phase 1 of the Lagos-Calabar Highway project, which covers approximately 47.7 kilometres stretching from Ahmadu Bello Way in Lagos.
The section is being developed by Hitech Construction Company Limited, and is designed to improve access to seaports and agro-industrial areas, while linking nine states across Nigeria’s coastal corridor.
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. This road project will 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.”
Also read: Nigeria Launches 125-Kilometer Benin-Asaba Superhighway Construction
