The federal governmenthas secured a 747million loan to finance Phase 1 Section 1 of the Lagos-Calabar highway.
The Ministry of Finance announced, yesterday, that the facility was arranged by Deutsche Bank.
Phase 1, Section 1 of the Highway is from Victoria Island to Eleko Village.
A statement by the Director of Information and Public Relations, Mr. Mohammed Manga, indicated that it was the first syndicated road infrastructure loan of its size in Nigeria and a strong signal of global investor confidence in the countrys reform trajectory and infrastructure pipeline.