A+ A A-

Nigeria to receive US $22.7m for Abidjan-Lagos highway project

Nigeria is set to receive a whopping US $22m for the Abidjan-Lagos highway project after ECOWAS and the African Development Bank (AfDB) signed the loan agreement to develop the project.

ECOWAS Commission President, Jean-Claude Brou confirmed the reports and said the 1,080 km Abidjan-Lagos corridor would connect some of the largest and economically dynamic cities in Africa and also link vibrant seaports which served landlocked countries of the region.

“With the approval of the member states, the ECOWAS Commission forwarded financing requests of approximately 89 million dollars to several development partners, including AfDB and European Union, to fund the technical and project preparation studies,” said Jean-Claude.

Abidjan-Lagos highway project

The signing of the Grant Retrocession Agreement was between ECOWAS, AfDB, and the contracts for the feasibility, environmental, socio-economic. The signing  and detailed engineering designs for the six-lane highway, was in recognition of the decision of the Presidents of Nigeria, Ghana, Cote d’Ivoire, Togo and Benin in 2014 on the construction of the highway.

“Promoting regional trade is enshrined in articles establishing AfDB and is a key pillar in the High Five priorities of the bank.”That is why the bank is investing heavily in high quality regional transport infrastructure throughout the continent,” said  Senior Director, AfDB, Mr Ebrima Faal.

Technical studies to be undertaken

The AfDB representative added that the objective of the Abidjan-Lagos Corridor Highway Study was to undertake all the needed technical studies for the effective implementation, operations and economic development of the highway.

Mr Mayne David-West, Pearl Consultants and Civil and Structural Engineers, who spoke on behalf of the other consultants, said the project design would take two years and would connect to the planned East-West coastal road.

The EU representative, Mr Kurt Cornelis, commented that the project fitted in the framework of the cooperation of the EU with the continent and also the region.and acknowledged that the project would strengthen the competitiveness of the territories, stimulate investments, encourage regional integration for development growth and job creation.

Visit the best review site bbetting.co.uk for Bet365 site.

©Copyright 2015. Construction Exchange. All rights reserved.