The African Development Bank (AfDB) Group has reaffirmed its dedication to financing the construction of the Abidjan to Lagos highway.
In an official statement published on its website, the bank emphasized its leadership role in mobilizing funding for this significant infrastructure project.
The AfDB pointed out that the Heads of State in the Economic Community of West African States (ECOWAS) had resolved to accelerate the development of the highway.
This decision aligns with ECOWAS’s “Vision 2050” and forms part of the Priority Action Plan of the African Union’s Programme for Infrastructure Development in Africa (PIDA), which is being implemented by the AfDB.
The proposed highway will establish crucial connections between major ports and key urban areas in West Africa, including Lagos, Abidjan, Accra, Cotonou, and Lomé. It is expected to enhance trade and integration in the region, providing maritime port access to landlocked countries such as Burkina Faso, Mali, Niger, and Chad.
This project will also boost the West African transport network, comprising roads, railways, ports, and airports.
The Abidjan-Lagos highway will initiate in Bingerville, in the eastern suburbs of Abidjan, and terminate at Mile 2 (Eric Moore) in Lagos. This corridor hosts approximately 75 percent of commercial activities in West Africa.
The transport sector accounts for a significant portion of the region’s GDP (between five to eight percent) and plays a vital role in economic development and job creation, particularly for women and young people.
The project is expected to expedite the implementation of the African Continental Free Trade Area (AfCFTA), which aims to promote intra-African trade and economic cooperation.
The AfDB has consistently pursued initiatives like the African Investment Forum (AIF) to attract investments in large-scale projects across the continent. Since its inception in 2018, AIF has successfully garnered $142.6 billion in investment commitments for Africa.
The recent round table event, attended by 180 participants representing over 30 donors, further demonstrated the collective commitment to advancing Africa’s infrastructure development.