- The ‘Omi Eko’ project initiative aimed at transforming Lagos’ inland waterways into a world-class transportation hub.
- ‘Omi Eko is one of the legacy projects my administration’ – Sanwo-Olu
- Sanwo-Olu urged project partners to ensure prompt funding allocation
Lagos State Governor, Babajide Sanwo-Olu, met with European Union (EU) Ambassador to Nigeria and ECOWAS, Gautier Mignot, to discuss strengthening cooperation and multilateral business relations between Lagos and the EU.
Eko Hot Blog reports that the primary focus of the meeting was the ‘Omi Eko’ project, a €410 million initiative aimed at transforming Lagos’ inland waterways into a world-class transportation hub.
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The project, set to begin next month, will be jointly financed by public and private entities, including the EU, French Development Agency, European Investment Bank, and Lagos State Government.
With feasibility analysis completed, Sanwo-Olu expressed delight at the project’s imminent implementation.
The ‘Omi Eko’ initiative aims to harness Lagos’ aquatic ecosystem to address socio-economic challenges while providing alternative mobility solutions for residents.
He said: “With Omi Eko project, we are about to enhance the capacity of our infrastructure to provide quicker connectivity options for our residents. There will be more stations, more high-capacity electric boats and better water transportation services. The initiative will also enable us to expand the security and surveillance capabilities to make our waterways more navigable.
“The entire project fits into our vision of delivering integrated urban transportation system that will be efficiently operated. In terms of sustainability, the initiative is designed to adapt to future adjustments but the project has to commence so that we can have measurable progress before the expiration of our term in office.
‘Omi Eko’ is one of the legacy projects my administration will be bequeathing to change the face of public transport system in Lagos.”
Sanwo-Olu highlighted the potential positive impact of the EU’s investment in Lagos’ waterways, stating that it would significantly boost tourism and enhance the city’s competitiveness in attracting destination investors.
Emphasizing the importance of timely project implementation, Sanwo-Olu urged project partners to ensure prompt funding allocation and the availability of materials required for civil works.
The Governor also welcomed the planned entry of the EU-owned Infrastructure Development Bank into the Nigerian financial system, describing it as a “positive step” for the country.
In response, Ambassador Mignot announced that the ‘Omi Eko’ project’s groundbreaking ceremony would take place at the end of June.
The envoy said: “We have good news both from the EIB and AFD; now we are ready to sign the agreements that will allow the over €400 million Omi Eko project to kick off. By the end of June 2025, we will be organising a launching event in Lagos where I will be joining the French ambassador to make landmark investment decision.”
Mignot commended the Lagos Government’s dedication to fostering bilateral relations with the EU, acknowledging that a substantial portion of the European economic presence in Nigeria is concentrated in Lagos.
He emphasized the EU’s interest in strengthening economic cooperation with Lagos, noting that the European Chamber of Commerce has been restructured to enhance its flexibility and strategic approach to broad economic partnerships in Nigeria.
Additionally, Mignot expressed the EU’s commitment to investing in the technology sector, highlighting the pivotal role played by the German-owned GIZ in spearheading these efforts.
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