EBID Approves $241.6 Million for Nigeria's Infrastructure

On March 30, 2026, the ECOWAS Bank for Investment and Development (EBID) approved a funding package of $241.6 million aimed at strengthening Nigeria's infrastructure, particularly in transport and urban waste management. This approval was part of a broader $266.7 million (CFA 30 billion) regional fund package intended to promote sustainable and inclusive growth across West Africa, with Nigeria receiving the largest share due to its significant infrastructure deficit.

Key projects include a $100 million investment in the Lagos-Calabar coastal highway, which will connect nine coastal states and reduce logistical bottlenecks. Additionally, $50 million is earmarked for developing modern waste management facilities through public-private partnerships, expected to generate 5,000 jobs and increase recycling rates to 45%.

Furthermore, $91.63 million will be allocated for road infrastructure development in Bauchi State, aligning with national development plans to improve access to essential services and agricultural zones. EBID President Georg Agyekum Donkor emphasized the bank's commitment to financing projects that deliver long-term economic value across member states.