Abuja, 3 December 2025 — Deutsche Bank has expressed interest in financing major rehabilitation and replacement works on two of Lagos State’ most critical bridges, the Carter Bridge and the Third Mainland Bridge, as the Federal Government intensifies its push to attract private capital for large-scale road infrastructure projects.
The bank’s delegation, led by Managing Director and Global Co-Head of Structured Trade and Export Finance, Moritz Dornemann, and Chief Country Representative in Nigeria, Andreas Voss, met with Minister of Works, David Umahi in Abuja on Tuesday. During the meeting, the delegation also reaffirmed its interest in further financing of the Lagos–Calabar Coastal Highway, highlighting its ongoing confidence in Nigeria’s infrastructure delivery capacity.
A statement by the minister’s Special Adviser on Media, Orji Uchenna, noted that the visit was part of the government’s ongoing efforts to forge sustainable partnerships with global financiers to accelerate funding for strategic national projects.
Deutsche Bank Impressed by FG’s Infrastructure Resolve
During the meeting, the Deutsche Bank team commended the Federal Government’s resolve to upgrade ageing transport infrastructure and applauded President Bola Tinubu’s commitment to delivering large-scale road projects capable of boosting national productivity.
Specifically, the bank expressed interest in:
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Replacement of Carter Bridge — one of Lagos’ oldest and historically significant bridges.
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Comprehensive rehabilitation of the Third Mainland Bridge’s underwater structures — Africa’s second-longest bridge.
A ministerial statement highlighted the bank’s enthusiasm:
“They commended the President Tinubu’s led administration for his commitment to the development of large-scale and quality road infrastructure across the nation, which they noted was critical in achieving sustainable economic growth and national prosperity.”
The delegation also praised Hitech Construction Ltd for its work on the Lagos–Calabar Coastal Highway, noting that the project’s progress enhanced their confidence in Nigeria’s infrastructure delivery capacity and expanded their appetite to fund future phases.
Government Response and Project Status
Minister Umahi welcomed Deutsche Bank’s growing confidence in Nigeria’s infrastructure programme. He disclosed that the Lagos–Calabar Coastal Highway had been oversubscribed by over $100 million by investors and that the bank had expressed interest in evaluating project costs, which it considered undervalued.
Regarding the bridges:
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Carter Bridge: Originally constructed in 1901 and rebuilt in the 1970s, the bridge has suffered from structural fatigue, weakened bearings, overstressed steel components, and corrosion due to its age and coastal exposure. Ongoing remedial works aim to preserve its integrity, but the government now considers replacement as the only viable option.
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Third Mainland Bridge: Opened in 1990, this 11.8-kilometre corridor is Lagos State’ most iconic and economically significant bridge. It has faced decades of heavy traffic, saltwater corrosion, failed expansion joints, and structural stress. While previous rehabilitation phases addressed expansion joints, bearings, deck repairs, and asphalt overlays, underwater piles continue to show signs of deterioration, prompting the need for comprehensive restoration to extend its lifespan by another 50 years.
Umahi assured the Deutsche Bank delegation that both projects were progressing through an unbiased procurement process and promised that the bank would be engaged once successful bidders emerged.
Strategic Significance
The engagement signals another phase in the Federal Government’s renewed drive to court reputable global financiers, addressing growing concerns over funding gaps in national road infrastructure, particularly in Lagos, where critical bridges have suffered from decades of wear, saltwater corrosion, and heavy traffic.
If Deutsche Bank’s interest materialises into formal financing, Lagos State commuters and the broader economy stand to benefit from:
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Safer and more reliable transport corridors
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Reduced congestion
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Extended lifespan of strategic infrastructure
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Boosted economic productivity
The move also underscores the Nigerian government’s strategy of leveraging private-sector capital to deliver major infrastructure projects, ensuring long-term sustainability and minimising fiscal strain on public resources.
Looking Ahead
While Deutsche Bank has indicated strong interest, final agreements on financing terms, risk assessments, and project timelines are still pending. The Federal Government, meanwhile, continues to prioritise transparent procurement and quality execution to ensure that Lagos’ infrastructure meets the demands of a rapidly growing metropolis.
With Carter Bridge replacement and Third Mainland Bridge rehabilitation now gaining momentum, Nigeria appears poised to modernise two of its most critical transport arteries, ensuring safety, efficiency, and economic resilience for decades to come.
