Deutsche Bank shows interest in financing Nigeria’s bridge infrastructure, including the Carter Bridge replacement and 3rd Mainland Bridge rehabilitation, during a meeting with Works Minister David Umahi in Abuja.
ABUJA | Thursday, December 4, 2025
Bridge infrastructure development took center stage in Abuja on December 2, 2025, when the Honourable Minister of Works, Engr. David Umahi, held a strategic meeting with senior executives of Deutsche Bank. The discussions focused on financing options for two critical national assets: the Carter Bridge and the 3rd Mainland Bridge in Lagos.
The meeting, held at the Federal Ministry of Works headquarters in Mabushi-Abuja, brought together the bank’s top officials-Moritz Dornemann, Managing Director and Global Co-Head of Structured Trade and Export Finance, and Andreas Voss, Chief Country Representative in Nigeria. Their mission was clear: to formally indicate the bank’s interest in supporting the Federal Government’s ongoing efforts to modernize aging bridge infrastructure.
Dornemann noted that Nigeria’s economic future is heavily tied to the state of its transport corridors, saying the bank viewed the replacement of the Carter Bridge and the rehabilitation of the 3rd Mainland Bridge as “projects of national significance with long-term economic benefits.” According to him, the Tinubu administration’s focus on durable infrastructure has signaled to global financiers that the country is taking bold steps toward reshaping its development trajectory.
Voss reinforced this point, commending President Bola Ahmed Tinubu for “putting the nation’s physical infrastructure at the heart of the Renewed Hope Agenda.” He also praised the Ministry of Works for what he described as a renewed culture of transparency, speed, and efficiency in project delivery. He added that their team’s independent assessment of the Lagos-Calabar Coastal Highway reinforced confidence in Nigeria’s engineering capacity, especially with Hitech Construction Nigeria Ltd delivering what he called “world-class workmanship.”
The bank’s executives further remarked that the highway project’s early milestones had given Deutsche Bank assurance that Nigeria’s large-scale infrastructure pipeline offered strong financing prospects. They disclosed that, based on project quality and feasibility, the bank would be willing to expand its participation, particularly if the government continues its current pace of implementation.
Responding, Minister Umahi thanked the delegation for their readiness to collaborate, revealing that the Lagos–Calabar Coastal Highway had been oversubscribed by more than $100 million. He acknowledged the bank’s view that the project’s current valuation may be lower than its true worth, noting that such assessments help strengthen investor confidence.
Touching on the Lagos bridges, Umahi explained that the Carter Bridge had deteriorated beyond simple repair. “We are carrying out temporary remedial works only to maintain its stability,” he said, adding that technical studies showed the bridge required full replacement to meet modern safety standards. He emphasized that the goal was to deliver a durable structure capable of supporting Lagos’ mobility needs for decades.
On the 3rd Mainland Bridge, the Minister stated that while the structure remained fundamentally sound, its underwater components presented worrying defects. He said a comprehensive rehabilitation programme was being designed to reinforce its foundations and extend its lifespan by another 50 years. According to him, nothing short of an extensive underwater intervention would guarantee the safety of millions of daily users.
Umahi reassured the Deutsche Bank team that both projects were undergoing “a completely transparent, merit-based procurement process.” He stressed that successful bidders would only emerge after rigorous technical and financial evaluations. He affirmed that global partners like Deutsche Bank would be kept fully informed as the process advanced.
Special Adviser (Media) to the Minister, Uchenna Orji, who provided additional clarity after the meeting, said the discussions demonstrated the administration’s willingness to welcome credible international financiers into Nigeria’s infrastructure space. He described the engagement as “a forward step in creating sustainable, well-funded solutions for Nigeria’s most critical bridge assets.”
With bridge renewal now a top priority for the Ministry, the conversation with Deutsche Bank is expected to open a broader window for foreign investment in Nigeria’s transportation backbone.
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