The announcement was made during the formal opening ceremony of the 2025 Annual Meetings of the African Development Bank Group, held in Abidjan.
The African Development Bank (AfDB) has confirmed plans to invest $15 billion into the long-anticipated Lagos-Abidjan Highway Corridor, an infrastructure project expected to boost regional trade and mobility across five West African nations.
The announcement was made during the formal opening ceremony of the 2025 Annual Meetings of the African Development Bank Group, held in Abidjan.
In a keynote address by Dr Akinwumi A. Adesina, the President of the AfDB Group emphasised the strategic importance of the corridor and its potential to transform West Africaโs economic landscape.
He also expressed gratitude as he bowed out of the AfDB presidency: “As I complete my two five-year terms as President of the African Development Bank, I am proud of the legacy we are leaving behind for my successor, for the Bank, and for Africa,” he stated.
“The Bank supported the Noor Ouarzazate solar complex in Morocco, which was the worldโs largest concentrated solar power plant at the time of its completion.”
“We launched the Lagos to Abidjan highway corridor for which the African Development Bank is supporting the feasibility studies, and we have mobilised $15billion in investment interests,” Adesina stated.
“In Nigeria, we are implementing the development of special agro-industrial processing zones in 8 States and the FCT and have mobilized $2.9 billion to support the establishment of these zones in 28 more States of Nigeria.”
He added: “We have stood by countries that were under sanctions to clear their debt arrears to the Bank, including Somalia and Sudan.”
“Over the 10-year period under my presidency, the African Development Bank would have provided a total of $102 billion in support to Africa. This represents 46% of all the financing of the Bank since its establishment in 1964.”
“The African Development Bank financed over $55 billion in support of infrastructure, from roads, rails, airports, seaports, digital and communications, health, water and sanitation.”
Stretching approximately 1028 kilometers, the Lagos-Abidjan Highway Corridor will traverse Nigeria, Benin, Togo, Ghana, and Cรดte dโIvoire, connecting major urban and economic hubs along the West African coast. Once completed, the highway is expected to catalyse commerce across the ECOWAS region, reduce travel times, lower logistics costs, and enhance regional integration in line with the African Continental Free Trade Area (AfCFTA) goals.
Dr. Adesinaโs announcement came as he reflected on a decade of leadership at the helm of the AfDB, during which the Bank delivered $102billion in support to African nations โ representing nearly half of the institutionโs total financing since its founding in 1964.
“We accelerated regional integration with massive support for infrastructure to support the African Continental Free Trade Area,” Adesina noted, highlighting the Bankโs investments in railways, roads, ports, and energy systems across the continent.
Among the major transport corridors supported by the AfDB are:
“The Addis AbabaโNairobiโMombasa corridor, which reduced travel time from three days to one.
“Tanzaniaโs $3.2 billion standard gauge railway project.”
“The Senegambia Bridge linking Senegal and The Gambia, which slashed travel time from two days to under ten minutes.”
Adesina pointed to tangible improvements in the lives of over 565 million Africans due to the Bankโs interventions in energy access, health, sanitation, ICT, food security, and infrastructure. The AfDBโs infrastructure investments alone totalled over $55 billion in the past ten years.
In Cรดte dโIvoire, the host country of the 2025 Annual Meetings, the Bankโs financial support grew by 500% over the last decade, contributing to flagship projects like the Henri Konan Bรฉdiรฉ Bridge and the iconic 4th Bridge in Abidjan.
Dr. Adesina also acknowledged strong support from African leaders, including Nigerian President Bola Tinubu and Vice President Kashim Shettima, for approving the $500 million replenishment of the Nigeria Trust Fund for another 15 years.
As his presidency nears its conclusion, Dr. Adesina reaffirmed his commitment to the continent:
“I am extremely proud of the work we have done and the incredible impact the Bank has had on the daily lives of millions of Africansโฆ I will continue to serve Africa today and well into the future by Godโs grace.”
The African Development Bank also launched a $750 million hybrid capital offering on the global capital market in 2024, becoming the first multilateral financial institution in the world to do so and opening up a new asset class for investors globally.
He further noted: “The African Development Bank spearheaded (together with the Inter-American Development Bank) the framework to allow the re-channeling of the IMF Special Drawing Rights (SDRs) to multilateral development banks, which we can leverage by 4โ8 times to provide much-needed concessional financing at scale.”
“As my mandate as President of the Bank draws to a close, I am extremely proud of the work we have done and the incredible impact the Bank has had on the daily lives of millions of Africans. This has been a collaborative effort that we can all take great pride in.”
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