Lagos, AFD Strengthen Commitment to €410m Omi Eko Water Transport Project to Boost Economy and Sustainability

The Lagos State Government and Agence Française de Développement (AFD) have reaffirmed their commitment to the €410 million Omi Eko project, a transformative initiative aimed at modernising Lagos’ inland waterways into a world class, sustainable transport network.

The commitment was reinforced during a courtesy visit by Lagos State and AFD officials to the palace of Afeez Shittu, the Agbojojoye of Ibasa, Ijegun, Egba, Oguntedo, and Satellite Town in Oriade LCDA, Lagos.

Launched earlier this year by Governor Babajide Sanwo-Olu, the Omi Eko project is a partnership involving the Lagos State Government, AFD, the European Union, and the European Investment Bank. The initiative is designed to provide cleaner, faster, and safer water transport, reduce road congestion, and drive sustainable mobility across the state.

Lagos State Commissioner for Transportation, Oluwaseun Osiyemi, highlighted the project’s potential to stimulate economic growth and community development. “The Omi Eko project is about more than modernising our waterways. It will create jobs, promote local businesses, and provide new economic opportunities for communities along the riverbanks. Efficient, safe, and clean transport enables commerce to thrive and communities to prosper,” Osiyemi said.

The Africa Department Director at AFD, Sandra Kassab, detailed the project’s infrastructure and sustainability components. AFD will provide a sovereign loan of €130 million to the Federal Government, while the European Investment Bank contributes €170 million, and the European Union offers a €60 million grant for electric charging infrastructure for hybrid ferries.

The Omi Eko project will develop 15 ferry routes covering 140 kilometres, deploy 75 hybrid-electric ferries, and construct 25 modern ferry terminals and jetties equipped with electric charging points. The initiative is expected to create thousands of jobs, reduce CO₂ emissions by 41,000 tonnes annually, and improve air quality in Lagos.

Targeting 100,000 daily commuters, the project aims to save passengers up to three hours of travel time each day, boosting productivity and efficiency for businesses and individuals alike. The initiative also seeks to increase water transport’s share of daily mobility in Lagos from 1% to 5%, aligning with Governor Sanwo Olu’s THEMES+ Agenda on sustainable urban development.

Karim Idowu, Chairman of Ibasa, Ijegun, Egba, Oguntedo, and Satellite Town, praised the project for including local communities and encouraged the government to ensure it remains mutually beneficial, protecting livelihoods while fostering economic growth.

When completed, Omi Eko is expected to reshape Lagos’ transport landscape, positioning the city as a model for sustainable water transport in West Africa, while driving economic growth, supporting clean energy adoption, and enhancing the quality of life for residents.