African Investment Forum Secures $15.6bn Support for Lagos-Abidjan Highway

President of African Development Bank (AfDB), Akinwunmi Adesina has revealed that the African Investment Forum has secured a $15.6bn for the Lagos-Abidjan highway corridor.

Adesina revealed this in a tweet on Friday where he disclosed Ivorian President Alassane Ouattara is also aware of the development.

“Speaking to the Press at the Presidential Villa, together with H.E. President Alassane Ouattara of Cote d’Ivoire. He was delighted to hear the African Investment Forum has secured $15.6 billion of investment interests for construction of the Lagos-Abidjan highway corridor, ” he tweeted. 

The corridor is expected to connect five African major cities in Nigeria, Ghana, Ivory Coast, Togo and Benin.

Your Friends Also Read:  5 Die in Cote D’Ivoire Military Helicopter Crash

The Lagos-Abidjan project is seen as a major transport route expected to boost regional trade in the West African subregion.

Abidjan, Accra, Lome, Lagos and Cotonou are expected to be connected by the corridor.

It is also the flagship project of the Programme for Infrastructure Development in Africa.

The corridor interconnects the most densely populated and economically active parts of the sub-region. It intersects with a rail network and major ports/airports.

“The transport sector in West Africa plays a key role in the economic development of the region and generates about five to eight  per cent  of  its  Gross Domestic Product (GDP).

Your Friends Also Read:  132 firms bid for NNPC oil swaps

“This  remains  cognisant  of  the  fact  that  an efficient regional transport network is an enabling infrastructure required to promote regional trade and socio-economic development, inter alia.

“ECOWAS and WAEMU member states have consistently committed themselves to the financing of designated regional transport corridors.”

The Abuja-Lagos transport corridor supports a third of sub-regional trade activities on the continent. 

All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from News Central TV.



Leave a Reply

Previous Article
Kenya Plans to Issue $1Billion Eurobond by July

Kenya Plans to Issue $1Billion Eurobond by July

Next Article
NYT Journalist Jeffrey Moyo’s Case to be Decided on May 31 (News Central TV)

NYT Journalist Jeffrey Moyo’s Case to be Decided on May 31

Related Posts
Powered by Live Score & Live Score App