US EditionLandmark $747 Million Syndicated Loan Secured for Phase 1 Section 1 of the Lagos-Calabar Coastal Highway
LAGOS, NIGERIA, JUL 9 – The $747 million syndicated loan led by Deutsche Bank supports Nigeria’s largest road infrastructure project, with over 70% of Phase 1 construction already complete, boosting regional trade and jobs.
- Last Thursday, Nigeria's government secured a $747 million loan led by Deutsche Bank to fund Phase 1 of the Lagos-Calabar Coastal Highway, marking a key infrastructure milestone.
- Driven by Nigeria's macroeconomic reforms and the Renewed Hope agenda, the financing reflects renewed international investor confidence and support for infrastructure development.
- Deutsche Bank led a syndicate including Afrexim, ADEX, EBID, Nexent, and Zenith Bank, with over 70% of the 47 km section complete using durable CRCP technology for a 50-year lifespan.
- Following the deal, infrastructure funding is expected to boost jobs, local capacity, and private investment, supporting Nigeria's development goals.
- Beyond this deal, Nigeria’s financing success sets a strong precedent for future public-private partnerships and positions the country for a full transition to PPPs in infrastructure development.
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Lagos-Calabar Coastal Highway is a scam - Babachir Lawal
Babachir Lawal, a former Secretary to the Government of the Federation (SGF), has labelled the Lagos-Calabar Coastal Highway being constructed by the President Bola Tinubu administration as a 'scam.' Lawal made the allegation while appearing on Inside Sources with Laolu Akande, aired on Channels Television on Friday, July 11, 2025. The former SGF also said, despite the government's claims of ongoing projects across the country, there are no visi…
·Nigeria
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Lagos-Calabar highway: FG secures $747m loan from Deutsche Bank
The Ministry of Finance says the Federal Government, in collaboration with Deutsche Bank, has secured a $747 million loan to finance Phase 1 Section 1 of the Lagos-Calabar Highway. In a statement by the Director of Information and Public Relations,
·Nigeria
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C 67%
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