The African Development Bank (AfDB) and ECOWAS, have signed an agreement
for a study into a 1,000 km highway that will link Cote d’Ivoire’s
commercial capital Abidjan, to Lagos.
The total ﬁnancing for this study which has been put at US$22.7 million,
comprises of AFDB approved $12.6 million dollars to finance part of the
study; and a 9.1 million Euros grant from the EU Commission
Chawki Chahed, Senior Communications Officer, Communication and External
Relations Department of AfDB, disclosed that the bank had, in a statement
in Abuja on Tuesday.
Chahed disclosed that the development would mark a new step in building
regional integration and trade in the sub-region.
He explained that the proposed Abidjan-Lagos Corridor Highway, a six-lane
and three-lane dual motorway, would connect the countries via Accra, Lome
According to jim, the agreement was signed on Monday for a study on the
technical, implementation and operational aspects of the project and comes
nearly five years after the presidents of Côte d’Ivoire, Ghana, Togo,
Benin and Nigeria, signed a treaty on the establishment of the highway, in
The communications officer recalled that Jean-Claude Brou, president of
the ECOWAS Commission and Finda Koroma vice-president of the ECOWAS
Commission, attended the ceremony, which took place in Abuja.
Babatunde Fashola, Nigeria’s Minister of Power, Works and Housing; and
Chairman of the Ministerial Steering Committee for the project, and EU
Head of Co-operation in Abuja Kurt Cornelis were also present, Chahed
“By linking some of Africa’s largest and economically dynamic cities, the
road will promote cross-border trade and integrate fast-growing economies
within the ECOWAS.
“This is expected to contribute to reducing the poverty levels of the
population that depends on inter regional trade for livelihood,’’ he said.
The official quoted Ebrima Faal, Senior Director of AfDB in Nigeria, , as
saying that the bank remained fully committed to the 2020 ECOWAS’ Vision.
“We will work closely with the public and private sectors to unlock new
sources of growth for Africa, while reducing inequality between countries
and within countries.
“Together, we can unlock the enormous potentials of the West African
region and deliver on the Sustainable Development Goals for the region,”
FG tasked on speedy implementation of collateral registry act to boost SME access to finance
Basel Committee reduces sovereign role in bank capital calculations
Monetary policy rate hike more likely with expected rise in inflation
C&I Leasing boosts IOC partnership with acquisition of two new vessels
Access Bank's discounted financing for women in business offers up to N100m at 15%
Bank of China plans perpetual bond sale in capital push
Nigeria opens 2019 borrowings with 2, 3 year -savings bonds offer at 12.12%, 13.12%, closes Friday
Minimum wage: FG tasks Rewane's technical committee to suggest additional revenue sources
Top three sectors that boosted Nigeria’s VAT collection in 2018
Trading operations stung banks in fourth quarter but dovish Fed fuels hope