A funding package worth $100 million is being provided by the ECOWAS Bank for Investment and Development (EBID) for Nigeria’s coastal highway project. The highway will provide an improved transport link between Lagos in the South-West of the country and Calabar in Nigeria’s South-East.
The two cities are 570km apart by road in the south of the country and at present, the journey between them takes around 12 hours. However, the new highway will cut the journey time and boost capacity on the route.
Lagos is close to Nigeria’s border with Benin while Calabar is close to the country’s border with Cameroon. This new highway project will also boost Nigeria’s international transport, especially with the development of the new route connecting Lagos with Ivory Coast’s capital Abidjan, as well as improvements to major highways in Cameroon.
The coastal highway project is expected to cost up to $10 billion in total to complete.
