ECOWAS To Spend $2bn On Lagos-Abidjan Highway. The ECOWAS - TopicsExpress

ECOWAS To Spend $2bn On Lagos-Abidjan Highway. The ECOWAS Commission has said that the Abidjan-Lagos highway development project will gulp the sum of $2billion. Commissioner for Infrastructure for the commission, Mr. Ebima Njie disclosed this to journalists in Abuja during a meeting of experts and development partners for the Abidjan-Lagos Corridor Highway Development Project. Njie said that ECOWAS member states and development partners would be involved in the funding of the project. The experts meeting would focus on three core areas for the realisation of the project and explore practicable options for funding the project, he added. “We are now focusing on three areas; the legal framework which is going to govern the movement of people and goods within the corridor; the technical terms of reference of the designs and the management which is going to govern the highway and the financial mechanism which is one of the most important thing in order to get the dream realised,” he said. ECOWAS and the development partners are our key stakeholders. 75 percent of our trade movement relies on this corridor. We are going to put up a funding mechanism, a pool of funds whereby it could be a mixture of funding, we will take loans and grants in order to make sure this is realised,” he said. Also speaking, Nigeria’s Minister of Works Arc. Mike Onolememen, said that the project would facilitate free movement across borders in the sub-region. Onolememen who was represented by Mr Umunna Ekenna, Deputy Director (Highways) Planning noted that it was imperative that the project is actualised within the shortest possible time to promote the economic growth of the West African sub-region. This is aimed at promoting division of labour in the production of goods and services which will improve service delivery by reducing cost of commodities due to competition and access to a wider market. - See more at: leadership.ng/news/150713/ecowas-spend-2bn-lagos-abidjan-highway#sthash.fYNFnX6z.dpuf

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