KEY POINTS
- Deutsche Bank is reviewing financing options for Lagos bridge projects.
- The lender praised the progress on the Lagos-Calabar Coastal Highway.
- Government engineers say key Lagos bridge projects need long-term structural solutions.
Deutsche Bank has opened formal discussions with Nigeria’s Ministry of Works on potential financing for major repairs and replacement works on the Carter Bridge and the Third Mainland Bridge. The move adds fresh momentum to the government’s push to attract long-term capital for road projects that have struggled with aging structures, corrosive coastal conditions and decades of high traffic pressure.
Global bankers review Lagos bridge projects
A senior team from Deutsche Bank visited Nigeria’s Minister of Works, David Umahi, in Abuja on Tuesday to explore funding options for two of Lagos’ most crucial transport arteries—the Carter Bridge and the Third Mainland Bridge. The executives, led by Moritz Dornemann, the bank’s Managing Director and Global Co-Head of Structured Trade and Export Finance, arrived with a clear message that the lender is watching Nigeria’s infrastructure programme with growing confidence. They were joined by Andreas Voss, the lender’s Chief Country Representative in Nigeria.
According to a statement released by the minister’s media adviser, the visit formed part of the government’s drive to establish more durable partnerships with global financiers at a time when infrastructure funding gaps have widened. The delegation said they were encouraged by President Bola Tinubu’s public commitment to restoring key roads and bridges and maintaining a pipeline of projects large enough to support long-term private participation.
The bank’s team singled out the replacement of the Carter Bridge as a priority they were willing to evaluate. The structure, first built in 1901 and later reconstructed in the 1970s, has endured more than a century of exposure to saltwater, heavy traffic loads and structural fatigue. Government engineers have carried out rounds of remedial work, yet assessments show that the bridge’s current condition leaves replacement as the only practical long-term solution.
Funding outlook widens for Lagos bridge projects
According to Punch, they also expressed interest in the full rehabilitation of the underwater elements of the Third Mainland Bridge, one of Africa’s longest stretches at about 11.8 kilometres. The structure has been repaired repeatedly over the years, but recent inspections revealed deterioration in underwater piles that could affect its long-term stability. Umahi said the planned restoration is intended to extend the bridge’s lifespan by another 50 years.
The delegation reaffirmed their interest in additional financing for the Lagos-Calabar Coastal Highway, noting the quality of ongoing work by Hitech Construction Ltd increased their willingness to consider deeper involvement. Umahi said the project has been oversubscribed by more than $100 million and that Deutsche Bank has shown interest in further reviewing its cost structure, which financiers believe may be undervalued.
He assured the representatives that procurement processes for the bridge works remain competitive and transparent, adding that they would be updated as soon as the bidding stage concludes. The talks mark another step in the government’s broader effort to draw reputable lenders into Nigeria’s infrastructure renewal programme, especially in Lagos, where decades-old bridges now face rising structural and environmental strains.
