Infostride News has reported that Lagos State has successfully secured funding amounting to €410 million for the Omi Eko project during the ongoing 28th Conference of the Parties on Climate Change (COP28) in Dubai, UAE. This substantial investment for the inland waterways transportation initiative is set to be provided through various sources, including an AFD loan of €130 million, an EIB loan of €170 million, a €60 million grant from the European Union, and the remaining portion covered by the Lagos State government.
This critical development was gleaned from a publication available on the website of the Embassy of France in Abuja, as Infostride News has learned. The Omi Eko project stands as a flagship initiative of the Lagos State Government, aligning with the Lagos State Climate Action Plan 2020-2025. The primary objective of the project is to decarbonize public transportation by introducing mass public inland waterways transport (IWT) with electric ferries (e-ferries).
According to information published on the Embassy of France’s website in Nigeria, the Omi Eko project is anticipated to achieve a substantial carbon reduction, estimated at 41,000 tCO2 per year. This reduction is a testament to the project’s commitment to sustainable and environmentally friendly transportation solutions.

Delving into the details of the Omi Eko project, the Lagos State Government aims to establish 15 ferry routes that traverse the Lagos lagoon, covering a network of 140 kilometers of IWT that will undergo marking and dredging for optimal functionality. Additionally, the project involves the comprehensive upgrade of 25 ferry terminals and jetties, accompanied by the acquisition of 75 electric-powered vessels to augment the existing fleet.
A notable aspect of the inland waterways transportation project is the incorporation of charging stations at pontoons, powered by a cutting-edge Battery Energy Storage System (BESS) supplied by solar PV panels. To enhance reliability, the BESS will be supported by both the grid and a backup generator fueled by Compressed Natural Gas (CNG). This integration reflects a commitment to sustainable energy sources and resilience in the face of potential challenges.
Beyond the physical infrastructure, the Omi Eko project encompasses provisions for routine maintenance, ensuring the longevity and efficiency of the entire system. A dedicated Control Centre for the IWT network, along with associated systems including ticketing, will contribute to the seamless operation of the initiative. In this regard, the Lagos State Waterways Authority will play a pivotal role as the implementing agency, providing essential technical and engineering assistance to ensure the success of the Omi Eko project.
In summary, the substantial funding secured at COP28 marks a significant milestone for Lagos State, unlocking the potential for transformative change in public transportation through the Omi Eko project. As reported by Infostride News, the project’s emphasis on sustainability, decarbonization, and modernization of the inland waterways transportation system aligns with global efforts to combat climate change and promote environmentally conscious solutions.
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