The European Union Commission said it has concluded plans to invest €150bn in trade and transport infrastructure across West Africa with a special focus on the Lagos- Abidjan corridor.
According to the EU Commission, the initiative, which is part of its Global Gateway Initiative, aims to eliminate about 80 extortion checkpoints between the Benin Republic Border and Lagos State.
The Team Lead of the EU Delegation to Nigeria and ECOWAS, Celine Lhoste, disclosed this on Monday in Lagos during a tripartite meeting between the Nigerian Shippers’ Council, EU delegation and ECOWAS.
“There is an investment package of €150bn for Africa and West Africa is an important region where we are already investing a lot along the Lagos-Abidjan corridor,” she declared.
Lhoste highlighted the importance of Lagos ports to trade efficiency in the Lagos-Abidjan corridor.
She emphasised the EU’s commitment to supporting efforts to decongest Lagos ports and improve inland dry ports. Lhoste expressed interest in facilitating coastal shipping between Cotonou and Lagos ports, which could significantly enhance trade between Nigeria and Benin.
