{"id":23279,"date":"2022-05-06T18:01:02","date_gmt":"2022-05-06T18:01:02","guid":{"rendered":"https:\/\/www.withinnigeria.com\/broadnews\/?p=23279"},"modified":"2022-05-06T18:01:02","modified_gmt":"2022-05-06T18:01:02","slug":"afdb-secures-15-6bn-investment-for-construction-of-lagos-abidjan-highway","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/broadnews\/2022\/05\/06\/afdb-secures-15-6bn-investment-for-construction-of-lagos-abidjan-highway\/","title":{"rendered":"AfDB secures $15.6bn investment for construction of Lagos-Abidjan highway"},"content":{"rendered":"
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Dr Akinwumi Adesina, the president, African Development Bank (AfDB), says the bank has secured 15.6 billion dollars investment for the construction of the Lagos-Abidjan highway.<\/p>\n

Adesina tweeted this on his twitter handle @akin_adesina obtained by the our correspondent on Friday in Abuja<\/a>.<\/p>\n

He said that the investment would strengthen regional trade and integration in West Africa by linking the hinterlands of different Participating Member Countries (PMCs).<\/p>\n

The president said that the\u00a0 investment would include providing sea port access to landlocked countries and some transition states of West Africa to the vibrant seaports.<\/p>\n

Reports that the Lagos-Abidjan highway interconnects the capital cities of five Western African States, covering approximately 1,028 km and eight border crossings.<\/p>\n

They are Cote d\u2019Ivoire, Ghana, Togo, Benin and Nigeria.<\/p>\n

The\u00a0 Abidjan-Lagos Corridor is\u00a0 a\u00a0 flagship\u00a0 project of\u00a0 the\u00a0 Programme\u00a0<\/a> for\u00a0 Infrastructure Development in\u00a0 Africa (PIDA).<\/p>\n

It forms part of the\u00a0 wider Dakar-Lagos Corridor and\u00a0 a\u00a0 major\u00a0 part\u00a0 of\u00a0 the\u00a0 Trans\u00a0 African\u00a0 Highway\u00a0 Network\u00a0 within\u00a0 the\u00a0 ECOWAS region.<\/p>\n

The\u00a0 corridor\u2019s\u00a0 current\u00a0 alignment\u00a0 traverses\u00a0 all\u00a0 major\u00a0 economic centres of the five PMCs starting from \u201cBingerville\u201d, a suburb of Abidjan and ending at Mile 2 (Eric Moore), in Lagos.<\/p>\n

In a statement issued by AfDB recently said the Abidjan Lagos\u00a0 project\u00a0 is\u00a0 a\u00a0 key\u00a0 regional\u00a0 trade\u00a0 and\u00a0 transport\u00a0 corridor\u00a0 that interconnects some of the largest and most economically dynamic cities in Africa, Abidjan, Accra, Cotonou, Lom\u00e9 and Lagos.<\/p>\n

It also said that the corridor links other corridors along the north-south axis and interconnects the landlocked countries of Burkina Faso, Mali, Niger and Chad.<\/p>\n

\u201cThe corridor interconnects the most densely populated and economically active parts of the sub-region \u2013it intersects with a rail network and major ports\/airports.<\/p>\n

\u201cThe transport sector in West Africa plays a key role in the economic development of the region and generates about five to eight \u00a0per cent\u00a0 of\u00a0 its\u00a0 Gross Domestic<\/a> Product (GDP).<\/p>\n

\u201cThis\u00a0 remains\u00a0 cognisant\u00a0 of\u00a0 the\u00a0 fact\u00a0 that\u00a0 an efficient regional transport network is an enabling infrastructure required to promote regional trade\u00a0 and\u00a0 socio-economic\u00a0 development,\u00a0 inter\u00a0 alia.<\/p>\n

\u201cECOWAS\u00a0 and\u00a0 WAEMU\u00a0 member\u00a0 states have\u00a0 consistently\u00a0 committed\u00a0 themselves\u00a0 to\u00a0 the\u00a0 financing\u00a0 of\u00a0 designated\u00a0 regional\u00a0 transport corridors.<\/p>\n

\u201cThe\u00a0Abidjan \u2013Lagos\u00a0 transport\u00a0 corridor\u00a0 currently\u00a0 supports\u00a0 approximately\u00a0 75 per cent of sub-regional\u00a0 \u00a0trade\u00a0 \u00a0activities.<\/p>\n

\u201cHowever,\u00a0 a combination of hard and soft infrastructure deficiencies negates its optimal contribution to regional economic growth,\u2019\u2019 the Bank said.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Dr Akinwumi Adesina, the president, African Development Bank (AfDB), says the bank has secured 15.6 billion dollars investment for the construction of the Lagos-Abidjan highway. Adesina tweeted this on his twitter handle @akin_adesina obtained by the our correspondent on Friday in Abuja. He said that the investment would strengthen regional trade and integration in West […]<\/p>\n","protected":false},"author":4,"featured_media":23338,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"footnotes":""},"categories":[11],"tags":[335,229,4940],"class_list":["post-23279","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-metro","tag-countries","tag-infrastructure","tag-network"],"yoast_head":"\nAfDB secures $15.6bn investment for construction of Lagos-Abidjan highway » BROAD NEWS \u2014 WITHIN NIGERIA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.withinnigeria.com\/broadnews\/2022\/05\/06\/afdb-secures-15-6bn-investment-for-construction-of-lagos-abidjan-highway\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"AfDB secures $15.6bn investment for construction of Lagos-Abidjan highway\" \/>\n<meta property=\"og:description\" content=\"Dr Akinwumi Adesina, the president, African Development Bank (AfDB), says the bank has secured 15.6 billion dollars investment for the construction of the Lagos-Abidjan highway. 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