By: Chioma Madonna Ndukwu
The Lagos State Waterways Authority (LASWA) has announced that its “Omi Eko” water transport project will cost €410 million. LASWA’s General Manager, Mr. Oluwadamilola Emmanuel, shared this in a statement on Thursday.
The project, primarily funded through the Global Gateway Initiative with support from the French Development Agency (AFD), the European Union (EU), and the European Investment Bank (EIB), will see an investment of €360 million from these international partners, alongside a €40 million contribution from the Lagos State Government. The private sector will invest an additional €10 million.
“The Omi Eko project is a visionary plan to transform Lagos’ waterways into a world-class transport system and drive urban and economic development,” Emmanuel stated. Set to begin this year, the project will run until 2030.
The project will utilize the city’s vast waterways for sustainable, efficient, and eco-friendly transport, and aims to alleviate Lagos’ traffic congestion by offering an alternative water-based transport system. The initiative includes dredging and navigation for 15 ferry routes, and the introduction of over 78 large electric ferries.
It will also involve the construction and renovation of 25 ferry terminals equipped with charging stations, digital payment systems, and safety equipment. Emphasizing environmental protection, the project will use low-emission ferries to reduce pollution.
Additionally, the Omi Eko project promotes public-private partnerships to foster business growth along waterfronts, especially in tourism hubs. It will feature strict safety protocols, public education on safety, and a smart ticketing system to improve passenger experience.
The project is set to transform Lagos’ waterways into not just a transport network but a space for commerce, innovation, and community life, reducing pressure on the city’s roads and setting a model for sustainability.
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