FG Secures $100 Million Foreign Loan for Lagos–Calabar Coastal Highway Phase 1
Abuja, July 9, 2025 The Federal Government has finalized a significant syndicated financing arrangement, secured through the Engineering, Procurement, Construction + Finance (EPC+F) model with Hitech Construction, to support Phase 1, Section 1 of the Lagos–Calabar Coastal Highway. The deal includes: A $100 million facility from the ECOWAS Bank for Investment and Development, targeting the 47.7 km stretch in Lagos State