Home Economy ECOWAS-members approves $50m highway from Lagos to Abidjan

ECOWAS-members approves $50m highway from Lagos to Abidjan

by Business News Report

The plan by ECOWAS-members countries for highway from Lagos to Abidjan got a major boost on Thursday as the Heads of Governments in the sub-region approved a $50 million and the request by the ECOWAS works ministers to be allowed to approach the African Development Bank (AfDB) for a provision of another $ 16.6 million for the detailed designs of the project. The approvals followed a three-point proposal submitted by the ECOWAS Ministerial Project Steering Committee during a meeting on the delineate of the ongoing 22nd African Union Summit of African Heads of Governments in Addis Ababa, Ethiopia.

The committee comprises Works and Infrastructure Ministers from Nigeria, Ghana, Togo, Benin and Ivory Coast is being Chaired by Nigeria’s Mike Onolemenen
At the meeting, which was chaired by Nigeria’s President, Goodluck Jonathan, the leaders, however, deferred details of the individual member’s contribution to the $ 50 million request presented by the ministers to when they meet in Nigeria, at a date yet to be decided. The road is expected to commence from Lagos, passing through Ghana, Benin Republic to Togo and terminating in Abidjan.

The meeting was attended by the Ghanaian Vice President, on behalf of his boss, President John Darma Mahama and representatives of the Presidents of Benin President, Boni Yayi. But Ivory Coast President, Alassan Quattara, who was not available for the meeting however met the President later. Onolememen, while presenting the outcomes of the committee’s deliberations to the leaders, said the decision was aimed at quickening the realization of the project in view of its economic importance to the peoples of the West African sub-region.

Besides the approval and authorization of the raising of $ 50 million as well as approval for the provision of the  AfDB grant of $ 16.6 million, the ministers also wanted the ECOWAS leaders to approve and consider for initials the draft treaty and full commitment of member-states towards the project. According to him, the $ 50 million seed money was to allow the work on the road to commence in the first quarter of the 2014. According to Jonathan, at the meeting of the ECOWAS heads of state meeting, “it would be decided how we can quickly mobilize funds. We have approved your prayers, anything that money that involves money takes more time? But the decision In terms of details of how we can quickly mobilize money and the ratio of contributions by each member states will be taken when we get Abuja, Nigeria.

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