Deutsche Bank has shown strong interest in funding major repair and replacement works on two critical Lagos bridges. The Federal Government is pushing hard to attract private capital for big road projects, and this engagement marks another key step. A delegation from the bank met with the Minister of Works, David Umahi, in Abuja to discuss financing opportunities.
The team, led by Moritz Dornemann and Andreas Voss, also restated interest in supporting the Lagos-Calabar Coastal Highway. According to the minister’s media aide, the visit aligns with the government’s plan to deepen partnerships with global financiers and speed up funding for strategic infrastructure.
During the meeting, Deutsche Bank praised the government’s resolve to upgrade ageing transport assets. The delegation also commended President Bola Tinubu’s commitment to delivering large-scale projects that can boost national productivity. They expressed clear interest in replacing the Carter Bridge and rehabilitating the underwater components of the 3rd Mainland Bridge.
Umahi welcomed their confidence in Nigeria’s infrastructure programme. He revealed that the Lagos-Calabar project had been oversubscribed by over $100 million. He added that the bank believed the project cost was undervalued, which increased its appetite for participation.
The minister confirmed that Carter Bridge had deteriorated beyond simple repairs. He noted that only a full replacement could guarantee long-term safety. He also explained that the 3rd Mainland Bridge required extensive underwater restoration to extend its lifespan.
Both projects are progressing through an unbiased procurement process. The government assured Deutsche Bank that updates would follow once successful bidders emerge.
