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Bauchi State ECOWAS loan and Saudi deals

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2026-07-31 18:13 UTC → 2026-08-03 17:22 UTC · added ~~removed~~

Governor Bala Abdulkadir Mohammed announced that Bauchi State had secured a US$91.6 million infrastructure financing agreement with the ECOWAS Bank for Investment and Development, backed by a federal guarantee and slated for disbursement in August. The loan is intended to fund multiple road projects and urban renewal works, while the state also signed two MoUs with Saudi Arabia’s Golden Contractors Group covering agriculture, minerals, oil and gas, tourism, aviation, housing and Hajj‑Umrah services, with plans for direct air links and an export processing zone. A few days later, the ECOWAS Bank and Bauchi State formalised the financing at the bank’s Lomé headquarters. The agreement earmarks the US$91.63 million for the Bauchi State Transport Infrastructure Financing Programme, covering the construction and rehabilitation of 24 strategic roads and bridges. The programme is projected to create about 5,000 construction jobs and 2,000 permanent positions, and represents roughly 14 % of Bauchi’s 2026 budget. The federal sovereign guarantee underscores a shift toward regional lenders for sub‑national infrastructure projects. In July 2026, the ECOWAS Investment Bank (BIDC) announced a broader regional financing push, committing €80 million to Coris Holding to expand long‑term financing for food, energy and agricultural value‑chain projects across West Africa. The same month, BIDC reaffirmed the US$91.6 million Bauchi State loan, linking it to the earlier Lomé agreement and highlighting the expected job creation and transport‑cost reductions for rural communities.

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