The funding approval, confirmed during EBID’s 92nd Ordinary Session held on June 30, 2025, represents a significant boost to the government’s plan to complete the 700km Lagos-Calabar highway by 2028.
The funded stretch designated as Section 1, Phase 1 begins at Ahmadu Bello Way in Lagos and is currently under construction by Hitech Construction Company Limited, having commenced in March 2024.
A statement from EBID on Friday, explained that the $100 million loan is aimed at enhancing transport connectivity across nine Nigerian states, improving access to seaports, and opening up remote agro-industrial zones. The project is also expected to foster the development of regional value chains and improve the livelihoods of coastal communities.
“A $100m Lagos-Calabar coastal motorway project, in the Federal Republic of Nigeria. This project, which spans 47.7km, will link nine Nigerian states, improve access to seaports and isolated agro-industrial areas, and contribute to the emergence of a regional value chain to help coastal communities,” the report from the session read.
