Lagos to begin implementation of €410 million Omi Eko water transport project in 2025, end by 2030

The General Manager of LASWA, Oluwadamilola Emmanuel, disclosed this in a statement made available to the News Agency of Nigeria (NAN) on Thursday in Lagos.

He stated that the project, aimed at transforming Lagos’ inland waterways into a world-class transportation network, would be financed largely through the Global Gateway Initiative with support from the French Development Agency (AFD), the European Union (EU), and the European Investment Bank (EIB).

According to Emmanuel, the AFD, EU, and EIB will invest €360 million in the project, while the Lagos State Government will provide a counterpart fund of €40 million. An additional €10 million will come from the private sector.

“The Omi Eko project is a visionary initiative aimed at transforming Lagos’ inland waterways into a world-class transportation network and a catalyst for urban and economic development. 

“Implemented by the Lagos State Government through the Lagos State Waterways Authority, the project implementation is now set to commence this  year and will run till 2030,”. Emmanuel stated.

He added that the project is expected to alleviate traffic congestion on Lagos roads by offering a reliable water transport alternative integrated with existing road and rail networks.

The Omi Eko project includes the dredging and navigation of 15 ferry routes, the deployment of over 78 large-capacity electric ferries, and the construction and rehabilitation of 25 ferry terminals equipped with charging stations.

These terminals will feature modern amenities such as parking facilities, waiting areas, digital payment systems, and safety equipment.

LASWA’s General Manager emphasized the project’s environmental sustainability, noting that the eco-friendly ferries would have low-emission engines to minimize water and air pollution.

Emmanuel noted that beyond transportation, the Omi Eko project envisions Lagos’ waterways as hubs for innovation, commerce, and community life, setting a benchmark for sustainable urban development in Africa.

Naijaonpoint first reported in December 2023 that Lagos State secured €410 million in funding for the Omi Eko project at COP28 in Dubai.

The project aims to introduce 78 large-capacity electric ferries, but for now, ‘banana’ boats—small vessels carrying up to 17 passengers—remain the most common on Lagos waterways.

Ibrahim stressed that the transition would be gradual, allowing time for adaptation.