The Lagos State Waterways Authority (LASWA) has announced that the implementation of the €410 million Omi Eko water transport project will commence this year and is scheduled for completion 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.
More insight
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.
- He also highlighted the economic opportunities it would create by stimulating activities in waterfront communities, benefiting local businesses, artisans, and entrepreneurs.
- Providing more insight, he revealed that a smart ticketing system using the Cowry Card payment technology will also be implemented to improve passenger convenience and reduce waiting times.
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.
What you should know
Nairametrics 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.
- In 2024, the Lagos State Government introduced the Omi Bus, a larger vessel carrying 40 passengers, though they are still outnumbered by banana boats.
- Speaking to Nairametrics in December 2024, Dayo Ibrahim, an official at LASWA’s Five Cowries Terminal, revealed plans to phase out banana boats in favour of larger vessels.
- Licensed banana boat operators will have the opportunity to bid for Omi Buses with government support.
Ibrahim stressed that the transition would be gradual, allowing time for adaptation.
