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The ECOWAS Bank for Investment and Development has approved a $50 million waste management project in Lagos State expected to generate over 5,000 jobs and improve environmental conditions in Nigeria’s commercial hub.
The approval forms part of a broader $266.7 million and XOF30 billion funding package endorsed at the bank’s 95th Board of Directors meeting, aimed at supporting infrastructure and development projects across West Africa.
According to details of the Lagos project, the investment will expand waste management infrastructure, increase recycling rates to 45 per cent, and strengthen the state’s capacity to manage rising urban waste challenges.
The initiative is also projected to produce about 60,000 tonnes of organic compost annually, a move expected to support agriculture and reduce dependence on chemical fertilisers.
Analysts say the project could significantly improve public health outcomes by reducing landfill pressure, limiting environmental pollution, and promoting cleaner urban communities.
Beyond its environmental impact, the job creation component is seen as a major boost for employment, particularly for youths and low-income earners within the waste value chain, including collection, sorting, recycling, and processing.
Other approvals by the bank include $100 million for the Lagos–Calabar Coastal Highway project and $91.63 million for transport infrastructure in Bauchi State to improve road networks and ease the movement of goods and services.
Outside Nigeria, EBID approved a XOF20 billion facility in Senegal to support small businesses, agriculture, and housing, with a focus on women and youth.
Additional funding includes $15 million for a tissue paper manufacturing plant in Ghana, $10.04 million for the expansion of G Farms Ltd. in The Gambia, and a XOF10 billion credit line to Afriland First Bank Côte d’Ivoire to support micro, small and medium-sized enterprises.
Speaking after the meeting, EBID President, Dr George Donkor, said the approvals reflect the bank’s commitment to driving economic growth and development across member states.
He added that the projects are expected to enhance regional competitiveness, promote industrial expansion, and support long-term sustainable development.
