€170m Lagos Waterways Project To Cut Travel Time, Boost Green Transport

The European Union Ambassador to Nigeria, Gautier Mignot, has said that the €170 million financing partnership between EIB Global and Lagos State will significantly reduce travel times, improve access for waterfront communities, and advance the state’s climate and sustainability objectives through greener transportation options.

Speaking at the signing ceremony and site visit held at the Lagos State Waterways Authority (LASWA) headquarters, Mignot described the Omi Eko Project as a major milestone in the EU’s collaboration with Nigeria, noting that it reflects the bloc’s commitment to sustainable urban mobility under its Global Gateway strategy.

The event brought together senior representatives of the European Union and international partners, including EIB Vice-President Ambroise Fayolle and the French Consul General in Lagos, Laurent Favier.

According to Mignot, the project demonstrates the strength of the partnership between the European Union, Lagos State and Nigeria, while delivering tangible benefits to millions of residents.

“The OMI EKO project is a strong demonstration and the sizeable support of the European Union, EIB and AFD are bringing to this project, 300 million euros in subsidized loans and 60 million euros in grants, shows the strength of our partnership with Nigeria and Lagos State and the positive impact of this collaboration on the daily lives of millions of people,” he said.

Mignot added that the initiative aligns with the EU’s Global Gateway strategy aimed at enhancing connectivity and sustainable infrastructure across the world.

“It is also a demonstration of our Team Europe’s commitment to roll out the EU’s Global Gateway strategy in West Africa, with the aim of strengthening global connectivity across the world. I look forward to navigating, in a not too distant future, on electric ferries throughout the wonderful Lagos lagoon and to further expand transport connectivity in Lagos, in Nigeria, but also in the ECOWAS region and beyond. Let’s shape the future together,” he stated.

The Lagos State Commissioner for Transportation, Mr. Oluwaseun Osiyemi, described the financing agreement as a significant step toward improving the state’s transport infrastructure and promoting sustainable urban development.

“The EIB’s commitment to the Omi Eko Project is highly commendable. Likewise, the Lagos State Government is fully committed to providing the enabling environment required for the success of this partnership. This includes strong political will, policy consistency, transparency, accountability and effective collaboration,” Osiyemi said.

He assured stakeholders that the state government would work closely with the European Investment Bank to ensure the project meets international standards.

“We are prepared to work closely with the European Investment Bank to ensure that Omi Eko meets the highest global standards of project delivery and sustainability,” he added.

Osiyemi noted that the project underscores Lagos State’s readiness to deliver world-class infrastructure capable of improving mobility, easing traffic congestion and supporting long-term economic growth.

Also speaking, the Special Adviser to the Governor on Blue Economy, Mr. Oluwadamilola Emmanuel, said the partnership represents a major breakthrough in efforts to unlock the full potential of Lagos’ blue economy.

“The partnership signing ceremony with the EIB marks a significant milestone in our journey to unlock the full potential of our Blue Economy, and of the Omi Eko Project in particular,” Emmanuel said.

“We are confident that with the support and expertise of the European Investment Bank, the Omi Eko Project will stand as a landmark achievement, showcasing what is possible when visionary leadership meets strategic international partnership.”

For his part, EIB Vice-President Ambroise Fayolle said the investment would help create a safer, more efficient and affordable public transportation system while supporting economic growth and job creation.

“We strongly support this flagship green project, which will develop a safer, more efficient and affordable public transport system in Lagos. It will improve the daily lives of Lagos’ large population while boosting sustainable growth and job opportunities,” Fayolle stated.