AfDB says it provided $1.1bn to 20,500 Nigerian businesses

The African Development Bank (AfDB) says the $430 million highway connecting Nigeria’s Southeast region, from Enugu to Bamenda, in South West Cameroon will be finished before the end of the year.

The Bank’s President, Akinwunmi Adesina who disclosed this at the 59th Ordinary Session of the ECOWAS Authority of Heads of State and Government in Ghana, said the project was part of its $16 billion worth of projects in West Africa alone.

He added that the Enugu-Cameroon highway would improve trade in West Africa, as it is also currently rounding up feasibility studies for an Abidjan-Lagos corridor by the end of 2021.

“We expect construction for the corridor to commence within 24 months,’’ Adesina said.

“The Senegambia Bridge is rapidly facilitating trade between Senegal and The Gambia.

“Our financing helped to double the capacity of the Lome container port in Togo, which is critical for regional transport and logistics.

“The Bamako to San Pedro corridor has helped to expand trade between Côte d’Ivoire and Mali by 34 per cent, while reducing transit time at the border from 24 hours to just two hours.

“The 303km road linking Ouagadougou and Lome has reduced travel time from six days to just two days.

“Our 650 million dollars financing for the transport corridors linking Sierra Leone, Guinea and Liberia will impact on economic opportunities for 51 million people.”


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