Abidjan-Lagos corridor nations, partners commit to $6.8B investment in strategic sectors

Technical experts, engineers, sector experts and experts from the ECOWAS Commission and Agencies, development partners, together with representatives from the Abidjan-Lagos Corridor member States, held a three-day validation seminar on the draft final report of the Space Development Initiative (IDE) study for the development project of the Abidjan-Lagos Corridor expressway.

Experts have praised the results of the study, which, among others, revealed a potential $6.8 billion investment prepared and ready to be deployed to unlock economic growth and boost the viability of the Road Corridor.

The overall objective of this Spatial Development Initiative (IDE) Study for the Abidjan-Lagos Corridor Expressway Development Project is to identify and unlock the inherent and latent economic potential (short, medium and long term) and commercial viability of economic and industrial value chain projects.

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These economic projects, once implemented, will also generate trade and traffic volumes to increase the viability of the highway.

The consortium consisting of CPCS, Holland and Hausberge and Comete used the SDI approach to identify specific infrastructure interventions in a 200km catchment area of the Abidjan-Lagos Corridor with high potential to unlock private sector investment in high opportunity sectors and projects.

The seminar considered three types of projects along the corridor, namely “economic anchor” projects, “strategic infrastructure” projects and “densification” and “deepening” projects.

Through the SDI approach, the Commission and the corridor countries approved the recommendations of consultants for projects in the oil and gas, agriculture, wildlife, fisheries and tourism sectors, with links upstream and downstream to the corridor highway.

The identification and pre-selection of projects complied with stringent criteria covering the contribution to regional integration, financial, economic, social and environmental justification and readiness for execution.

Synergies with the master plan and national policies, as well as the upward and downward links, were considered.

Projects are classified as economic anchor projects (industries, value-added companies, free zones, etc.) ); strategic infrastructure projects (roads, railways, multimodal interchanges, ports, etc. ) and economic deepening and densification.

Some of the major anchor catalyst projects are the Remo Economic Industrial Cluster in Nigeria, the Glo-Djigbé Industrial Zone (GDIZ) in Benim, the Adétikopé Industrial Zone Cluster in Togo, the Greater Kumasi Industrial City in Ghana and the PK 24 Industrial Hub in Cote d’Ivoire.

At the end of the exercise, a Corridor Investment Plan will be finalized, which will include 26 groups of identified projects, encompassing 78 pre-selected projects and 120 deepening and densification projects, a total of 206 projects, of which 27 are ready for investment and estimated at $6.8 billion of potential investment in the area.

Experts also visited several bridges and toll roads in Abidjan to share knowledge and experiences on the proposed toll strategy for the Abidjan-Lagos corridor highway.

The final draft reports for the Spatial Development Initiative (IDE) Study under the Abidjan-Lagos Corridor Highway Development Project were validated by the Corridor Countries during this meeting, demonstrating a commitment to unlocking the inherent and latent economic potential of the corridor.

This affirms very clearly the commitment of the Member States of the Abidjan-Lagos Corridor, of the ECOWAS Commission to the support of Development Partners to implement IDE, which will boost eco-economic growth, promote regional integration and unlock the corridor’s immense potential.