Nigeria has secured a groundbreaking $747.5 million syndicated loan, led by Deutsche Bank, to launch the first phase (47.5 km) of the planned 700‑km Lagos–Calabar coastal highway the nation’s largest-ever infrastructure financing project. Institutional partners include First Abu Dhabi Bank, the African Export-Import Bank, and Zenith Bank. The full project carries an estimated cost of $11 billion with a projected eight-year completion timeline.

Officials say the highway will stimulate cross-state connectivity, facilitate commerce along Nigeria’s southern corridor, and create thousands of jobs at every construction phase.

This developments promises not only roads; it’s a strategic artery for economic development, regional integration, and sustainable mobility.