Lagos State is set to break ground in June on the €410 million ($464 million) Omi Eko water transport project aimed at easing the city’s chronic traffic congestion through the development of inland waterways.
This announcement was reported by Bloomberg on Friday, citing a statement from the Lagos State Government.
The Omi Eko project—named after the Yoruba phrase for “Lagos water”—is designed to integrate water transport into the broader urban mobility system of Lagos, Nigeria’s commercial hub and most populous city.
“The state housing Nigeria’s economic hub is engaging the European Union to develop inland waterways as part of an integrated urban-transport system intended to ease gridlock in Lagos, which is also its most populous city.
“They are due to break ground on the €410 million ($464 million) project in June, the Lagos state government said in an emailed statement Friday,” the Bloomberg report read in part.
In February, the Lagos State Waterways Authority (LASWA) confirmed that the Omi Eko project would commence this year, with completion targeted for 2030.
According to LASWA’s General Manager, Oluwadamilola Emmanuel, the €410 million funding package includes €360 million from international partners—the Agence Française de Développement (AFD), the European Union (EU), and the European Investment Bank (EIB). Lagos State will provide a counterpart contribution of €40 million, while the remaining €10 million will be sourced from the private sector.
The Omi Eko initiative will involve the dredging and navigation of 15 ferry routes, the deployment of over 78 electric-powered ferries, and the construction or upgrade of 25 ferry terminals across strategic waterfront locations in Lagos to improve urban mobility and ease traffic congestion.
Naijaonpoint first reported in December 2023 that Lagos State secured €410 million funding commitment for the project during the COP28 climate summit in Dubai.