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The European Union Commission has announced its intention to invest €150bn in trade and transport infrastructure across West Africa, with a specific focus on the Lagos-Abidjan corridor.
As part of the Global Gateway Initiative, the EU aims to reduce the number of extortion checkpoints between the Benin Republic Border and Lagos State by about 80.
Celine Lhoste, the Team Lead of the EU Delegation to Nigeria and ECOWAS, revealed this plan during a meeting in Lagos.
She emphasized the significance of the Lagos ports to trade efficiency in the corridor and expressed the EU's commitment to supporting efforts to decongest Lagos ports and improve inland dry ports.
Lhoste also expressed interest in facilitating coastal shipping between Cotonou and Lagos ports to enhance trade between Nigeria and Benin.
The investment package under the global gateway initiative will involve various funding sources, including private sector contributions and grants, to lower the cost of investments.
Furthermore, discussions are underway with the Port of Antwerp to explore using barges to ease congestion and improve connections between seaports and hinterlands in Nigeria.
The Transport Officer at the Directorate General International Partnership of the EU Commission, Jesus Gavilan, highlighted the challenges along the Lagos-Abidjan corridor, particularly the numerous checkpoints that hinder smooth transport between Benin and Nigeria.
