The African Development Bank (AfDB) has announced that it has secured the sum of $15.6Bn for the construction of the Lagos-Abidjan highway corridor. This was disclosed by the President of AfDB, Dr. Akinwunmi Adesina during the 2021 African Investment virtual boardroom closing session which was held on Thursday where he stated that the project would ease transportation across the West African sub-region.
Adesina said, “The biggest deal for the boardroom is the $15.6Bn deal for the Lagos-Abidjan highway corridor. The 46-lane highway corridor will connect Lagos, Cotonou, Lome, Accra, and Abidjan.
“It will support 75 percent trade in the West African region. The project will impact the lives of over 500 million people. It would reduce transport costs by 48 percent. It would increase intra-regional trade volume by 15 to 15 percent. It would connect land-locked cities to port countries.”
The road corridor is expected to link cities across five West African countries, namely Nigeria, Ghana, Togo, Republic of Benin, and Cote d'Ivoire.
