The President of the African Development Bank (AfDB), Akinwunmi Adesina, has confirmed that his institution, in collaboration with others, will mobilize $15 billion for the construction of the Lagos-Abidjan Highway project.
Adesina made this announcement on Friday in Abuja during the 90th birthday celebration of former Head of State, General Yakubu Gowon.
The Lagos-Abidjan Highway corridor, overseen by the Economic Community of West African States (ECOWAS), will handle 80% of the region’s trade, according to Adesina.
He added that upon completion, the project will strengthen transport connections between Nigeria and the rest of West Africa.
“The bank is mobilizing now support for the development of the railway line, connecting Kano to Maradi in the Niger Republic.
“On a significant note, the African Development Bank has provided $12.6 million to my brother, the president of the ECOWAS commission to support a feasibility study for the Lagos-Abidjan corridor highway.
“As a bank, we and other institutions will help to mobilize the $15 billion necessary to finance that corridor which carries over 80% of the trade in the region.
“When completed, the corridor will enhance transport connections between Nigeria to the rest of the West African region,” Adesina said.
