Nigeria has taken the largest share of new funding from the ECOWAS Bank for Investment and Development.
First, the Bank approved $266.7 million for projects across West Africa.
Nigeria Takes Largest Share From ECOWAS
Then, its Board made the decision during the 95th meeting on March 30, 2026.
Afterwards, the Bank announced the approvals in a statement on April 2.
Notably, Nigeria will receive more than $241 million from the total funding.
Specifically, the Bank allocated this funding to three major projects nationwide.
For example, it committed $100 million to the Lagos–Calabar Coastal Highway project.
As a result, the highway will connect nine coastal states and improve trade flows.
In addition, the Bank approved $91.63 million for transport projects in Bauchi State.
Consequently, the project will modernise roads and expand access to rural areas.
It will also reduce transport costs and support agricultural activities.
Infrastructure And Environment Focus
Meanwhile, the Bank allocated $50 million for waste management facilities in Lagos.
Therefore, the project will improve recycling, create jobs, and reduce health risks.
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At the meeting, EBID President George Agyekum Donkor outlined the Bank’s strategy.
He explained that the investments support long-term growth and regional development goals.
Furthermore, he said key sectors will help build a stronger regional economy.
Regional Supports Expands
Beyond Nigeria, the Bank also supported other member countries with targeted funding.
For instance, it provided Senegal with funding to expand credit for small businesses.
Similarly, it enabled Côte d’Ivoire to improve business access to finance.
In Ghana, the Bank approved $15 million for a tissue paper manufacturing plant.
Thus, the project will reduce imports and strengthen local industrial production.
Likewise, the Bank gave The Gambia $10.04 million to expand poultry and dairy operations.
As a result, the country will improve food security and reduce import dependence.
Importantly, these approvals build on similar investments the Bank made in 2025.
At that time, it committed over €230 million and $10 million across the region.
Overall, the funding highlights the Bank’s focus on infrastructure and economic growth in West Africa.
