Governor Babajide Sanwo-Olu has launched the €410 million Omi Eko Project, a landmark initiative aimed at transforming Lagos’ inland waterways and reducing road congestion.

The project is funded under the European Union’s Global Gateway programme, with support from the French Development Agency (AFD), the European Investment Bank (EIB), and the Lagos State Government.

It will see 140 kilometres of ferry routes dredged and marked, 25 ferry terminals upgraded or newly constructed, and about 70 hybrid or electric ferries deployed. Smart ticketing, vessel tracking, and electric charging facilities will also be introduced.

Of the total cost, €360 million will come from international partners, €40 million from Lagos State, and €10 million from private investors.

Sanwo-Olu said the project would “unlock the economic potential of Lagos waterways” and provide a cleaner, faster alternative to road travel. The initiative is expected to cut carbon emissions by 41,000 tonnes annually and serve up to 25 million passengers a year.

EU Ambassador Samuela Isopi described Omi Eko as “a model for sustainable, low-carbon transport in Africa.”