<ul data-eligibleForWebStory="false"><li>Nigeria secured a $747 million syndicated loan for the Lagos-Calabar highway project linking the commercial capital to a coastal city.</li><li>The project, criticized when awarded in 2023, aims to provide economic opportunities to coastal communities in southern Nigeria.</li><li>This is Nigeria's first syndicated road-infrastructure loan of this size, with plans to toll the road for financial sustainability.</li><li>The estimated $9.8 billion Lagos-Calabar Coastal Highway project is part of Nigeria's infrastructure improvement plan, with government and private financing.</li></ul>

Nigeria secures $747m loan for controversial road project

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