Deutsche Bank has signaled its interest in financing major rehabilitation and replacement works on two of Lagos’ most critical bridges—the Carter Bridge and the Third Mainland Bridge—as the Federal Government intensifies efforts to attract private capital for large-scale road infrastructure projects.
The bank’s delegation, led by Moritz Dornemann, Managing Director and Global Co-Head of Structured Trade and Export Finance, and Andreas Voss, Chief Country Representative in Nigeria, met with the Minister of Works, David Umahi, in Abuja on Tuesday.
The discussions also reaffirmed Deutsche Bank’s interest in supporting the Lagos-Calabar Coastal Highway.
According to a statement by the minister’s Special Adviser on Media, Orji Uchenna, the meeting forms part of the government’s ongoing efforts to forge sustainable partnerships with global financiers to accelerate funding for strategic national projects.
During the session, the Deutsche Bank team praised the Federal Government’s commitment to upgrading aging transport infrastructure and applauded President Bola Tinubu’s dedication to delivering large-scale road projects aimed at boosting national productivity.
They expressed particular interest in financing the replacement of Carter Bridge, one of Lagos’ oldest and most historically significant bridges, and the comprehensive rehabilitation of the underwater structures of the Third Mainland Bridge, Africa’s second-longest bridge.
The bank also commended the quality of work by Hitech Construction Ltd on the Lagos-Calabar Coastal Highway, noting that the project’s progress had strengthened their confidence in Nigeria’s infrastructure delivery capacity and encouraged further investment in subsequent phases.
Responding, Minister Umahi welcomed Deutsche Bank’s growing confidence in Nigeria’s infrastructure programme, revealing that the Lagos-Calabar Coastal Highway had been oversubscribed by over $100 million.
He added that the bank had also expressed interest in evaluating the project’s costs, which they deemed undervalued, further enhancing their willingness to participate.
Umahi highlighted the critical state of the Carter Bridge, noting that replacement had become the only viable option, although remedial works are ongoing to maintain its structural integrity.
He also emphasized that the Third Mainland Bridge, which has undergone multiple repair phases in recent years, faces severe underwater structural defects that require a comprehensive restoration to extend its lifespan by another 50 years.
“The commitment of Deutsche Bank to support these key projects demonstrates growing global confidence in Nigeria’s infrastructure programme,” Umahi said. “These partnerships are vital to ensuring sustainable economic growth and long-term national prosperity.”
