AfDB AND EU TO INVEST US$9m IN ABIDJAN-LAGOS HIGHWAY

Abidjan-Lagos Highway gets US$9m boost from AfDB and EU

According to the President of the Economic Community of West African States (ECOWAS), Marcel Alain de Souza, The African Development Bank (AfDB) and the European Union (EU) have agreed to inject US$9m for the construction of the 1,008km highway which will connect Abidjan to Lagos.

Mr. Marcel said after 42 years of integration, ECOWAS are yet to achieve 15 per cent of its goal, and since 70% of the regions trade is usually conducted through this route, hopefully the construction of the highway will begin in six(6) months.

The Highway cuts across Côte d’Ivoire; Ghana; Togo; Benin and; Nigeria and will serve local sea ports which transits about 90% of the region’s exports and 60% of its imports.

The fund promised by AfDb and EU will only cover the operational stage of the project, as the feasibility study which could begin next January, will be financed by each participating country with US$1m each.

When completed the project will not only help to integrate the region but will also help improve sub-regional trade among ECOWAS member states.