The recently launched Lagos Omi-Eko project valued at EUR 410 million (about N713bn) is targeted at transforming waterways mobility and transporting 25m passengers yearly.

The project is financed through a collaboration of the French Development Agency (AFD), the European Union (EU), the European Investment Bank (EIB) with an earmarked subsidised loan of EUR 360 million.

The project divided into two components will begin covering channelisation, marking and dredging of 140km of ferry routes from which the state will develop 15 priority ferry routes, including constructing high-quality infrastructure and facilities.

The Lagos State Waterways Authority (LASWA) is saddled with the responsibility of covering the first component.

The second component is expected to be completed by 2030 while the entire Inland Waterways Transport infrastructure comprises 25 ferry terminals and jetties with electric charging facilities to power e-vessels.

Also, the onshore depots for routine vessel maintenance, while land connections, including road surfacing, are expected to develop for other transport services connecting to ferry terminals.

The investment would bring decarbonised transportation in Lagos, reducing CO2 emissions by 41,000 tonnes yearly. It is expected to take 25,000 passengers yearly, saving travel time by 3hrs on each trip.

Speaking at the launch, the state’s governor, Babajide Sanwo-Olu described the Omi Eko project as “historic”, describing it as a “bold statement”.

Omi Eko, a Yoruba phrase is translated loosely as water of Lagos. It is an initiative to leverage on the state’s abundant water to drive waterways transportation.

78 electric ferries were deployed for the project

The governor added that the project reaffirms the state’s frontline leadership in delivering a sustainable integrated water transportation ecosystem.

He reiterated that waterways transportation is a critical priority in his administration’s THEMES+ Agenda to transform mobility in the metropolis.

“Every Lagosian knows the frustration of traffic. But a few will remember that Lagos began as a network of islands, knitted together by water. Long before bridges connected the city, boats carried dreams, goods, and people across the lagoons. This water body nourishes us, shapes the State’s identity and now, it will carry us into the future.

“The OMI-EKO project is a comprehensive, future-oriented blueprint for sustainable mobility in Lagos. It merges technology, environmental stewardship and smart design to create waterways that are not just navigated, but optimised. This is the kind of innovative projects cities around the world are building to confront the twin challenges of urban population growth and climate change. Lagos is not waiting to catch up, we are setting the pace,” he said.

Sanwo-Olu highlighted the investment potentials, saying the objective was to make transportation through water seamless, reduce carbon footprint, the air cleaner and transform waterways from barriers of separation into corridors of opportunity.

“The launch of this project is more than a ceremonial curtain pull. It is a covenant with our people, our planet, and with future generations. With OMI-EKO, we are lifting not only boats but lives, businesses, and communities. We are signaling that Lagos is ready to lead Africa’s urban transition by this bold, sustainable, and inclusive investment,” he said.

Former Governor Babatunde Raji Fashola, who created LASWA in 2008, hailed the Sanwo-Olu’s administration for nurturing the agency to a viable global entity.

He said the OMI-EKO project would further expand the scope of the state’s integrated transportation network, expressing optimism that the project would not stall, given the commitment of the European partners.

Commissioner for Transportation, Mr. Seun Osiyemi, said the project would unlock the full potential of Lagos inland waterways, bringing the final piece of the State’s Integrated Multimodal Transportation System to life.

“OMI-EKO aligns with broader Lagos Transport Policy, which promotes sustainability, inclusivity, and innovation, while ensuring that transport solutions serve the people while protecting the environment. The project is not just about ferry operations; it is about empowering communities, creating jobs, easing congestion, and reducing our carbon footprint,” he said.

Special Adviser to the Governor on Blue Economy, Mr. Damilola Emmanuel, who doubles as LASWA’s head, noted that the OMI-EKO project was no longer a dream, but a reality that would change the course of transportation in Lagos.

He said the 78 hybrid electric ferries that would be deployed after the completion of the project would reduce pollutants’ emissions and boost clean mobility

The LASWA boss said 20 existing jetties would be upgraded with modern terminals across 15 major water routes.

“In the first phase, there will be dredging and channelisation of 15 ferry routes for safer and faster transport. Parts of the benefits include technology transfer and capacity development for key agencies in the waterways, especially LASWA.

“There will be funding for the informal boat sector under our Vessel Industry. This is how we build a water-based economy that works for all — from operators to passengers, from private investors to our citizens,” he said.

French Minister for Europe and Foreign Affairs, Mr. Jean-Noel Barrot, said the project received complete support from EU partners, given the untapped opportunities in Lagos waterways.

The envoy said the OMI-EKO project represented the “best possible” example of what partnership could achieve for the benefit of the people, pointing out that the development was part of the success of the bilateral cooperation reached during President Bola Ahmed Tinubu’s recent visit to the French President Emmanuel Macron.

The EU Ambassador in Nigeria, Mr. Gautier Mignot, noted the partnership was an historical milestone for Lagos and EU member states, stressing that the investment would enhance life quality.

“This investment supports development of 12 strategic waterways corridors to enhance secure and efficient sustainable transport networks. Four of these corridors are located in West Africa. We are proud to be part of this project which showcases all the aspects of global gateway development,” Mignot said.