Mr Akinwunmi Adesina who is the president of the African Development Bank (AfDB) has announced the mobilization of $15 billion for the construction of the Lagos-Abidjan Highway project in collaboration with various partners.
He emphasised that the project will significantly enhance transport connections between Nigeria and the rest of West Africa and handle up to 80 percent of the region’s trade. The bank is mobilizing support for the development of the railway line connecting Kano to Maradi in the Niger Republic.
He mentioned that the AfDB has already provided $12.6 million students to support a feasibility study for the Lagos-Abidjan corridor highway, adding that, “As a bank, we and other institutions will help to mobilise the $15 billion necessary to finance that corridor which carries over 80% of the trade in the region.”
Adesina also outlined various AfDB investments aimed at fostering infrastructure growth in Nigeria. He mentioned that the bank has raised over $300 million for the Enugu to Cameroon project and invested over $40 million in the Lekki toll road to alleviate congestion and reduce traffic costs.
