Lagos to Embark on €410 Million Water Transport Scheme

The Lagos State Government is poised to initiate construction on the Omi Eko water transport venture this June.

The €410 million ($464 million) undertaking aspires to mitigate the city’s persistent traffic congestion by developing inland waterways.

This project is anticipated to augment urban mobility, invigorate economic activity, and foster environmental sustainability.

Project Specifications:

Funding Sources: €360 million from international collaborators (Agence Française de Développement, European Union, and European Investment Bank), €40 million from Lagos State, and €10 million from the private sector

Objective: To seamlessly integrate water transport into Lagos’ urban mobility framework, curtailing traffic congestion and advocating sustainable transportation

Scope of Work: Dredging and navigation of 15 ferry routes, deployment of 78 electric-powered ferries, and construction/upgrading of 25 ferry terminals equipped with modern infrastructure

Salient Features:

Environmental Sustainability: Low-emission ferries designed to diminish air and water pollution

Smart Ticketing System:Integration with Cowry Card payment technology for convenient and efficient travel

Economic Advantages:Generation of novel opportunities for local businesses, artisans, and entrepreneurs in waterfront communities

Completion Timeline:

The Omi Eko project is slated for completion by 2030, poised to revolutionize Lagos’ transportation milieu and elevate the quality of life for its inhabitants.