ECOWAS approves $50m for Lagos-Abidjan Expressway .

                                                                           

The Economic Community of West African States on Thursday approved $50m as contributory fund for the design and feasibility studies for the proposed Lagos-Abidjan Expressway.

The approval for the six-lane expressway was granted during a meeting of ECOWAS Ministers of Works and Infrastructure, which held on the sidelines of the ongoing 22nd Ordinary Session of the Assembly of Heads of State and Government of the African Union, in Addis Ababa, Ethiopia.

The meeting was chaired by President Goodluck Jonathan.

Chairman of the Ministerial Project Steering Committee of the project, who is also the Nigerian Minister of Works, Mike Onolememen, had earlier briefed the meeting that the sum was to be used to prepare the ground for commencement of the project within the first quarter of the year.

Apart from the sum that will be contributed by the ECOWAS member states, Onolemenen said $16m was expected from the African cause of Nigeria’s troubles, says Kukah

“Now for the full design to be paid for, we actually look forward to getting additional funds from development partners and multinational agencies. But to show commitment from member-states, that is why we are requesting for the seed money of $50m.”He said, “The feasibility study is going to be far in excess of $50m. So the AfDB offered that they have this money, that is the remaining $16m to contribute towards raising the total money for the design.

Onolemen said the road, when completed, would transverse Ghana, Benin Republic and Togo, stressing that it would aid the achievement of proper regional integration in West Africa and also open up the sub-region for commerce.

He said, “For instance you can imagine what a six-lane dual carriageway leading from Lagos to Abidjan and in future from Abidjan to Dakar will do to the economy of the sub-region. It will certainly transform the economy of the sub-region.

“Nigeria alone provides 50 percent of the population of the sub-region. So that means manufacturers and businessmen in our country, entrepreneur in our country will now have unfettered access to the vast markets of ECOWAS and that is one of the major achievements this project will deliver in addition to bringing about better integration between nations and nationalities of member-states.”

                                                                                                                                                                                                                                                                                                        posted by Emanto Ngaloru   feb 1, 2014.