Lagos State Governor Babajide Sanwo-Olu has commended the European Investment Bank (EIB) for its support of the Omi Eko Project, describing it as a transformative initiative that will improve urban mobility, boost economic productivity, and enhance the quality of life for Lagos residents.
Speaking on Friday while receiving an EIB delegation led by Vice President Ambroise Fayolle at Lagos House, Marina, Sanwo-Olu said the project aligns with his administration’s THEMES+ Agenda, particularly its transportation and traffic management objectives.
The governor explained that the Omi Eko Project is a key component of Lagos’ plan to develop an integrated transport system that combines road, rail, and water transportation. He noted that with nearly one-third of Lagos covered by water, the state is determined to maximize its waterways as a viable alternative for commuters.
According to Sanwo-Olu, the project will deliver modern ferry terminals, safer navigation channels, and improved commuter services, helping to cut travel times from as much as two hours to about 40–45 minutes.
EIB Vice President Ambroise Fayolle revealed that Nigeria became the bank’s largest country of operations in Africa in 2025, with total lending reaching €550 million. He described the Omi Eko Project as one of the European Union’s flagship initiatives in Lagos and said it will support the deployment of electric boats and modern water transport infrastructure.
The project is being financed by the European Investment Bank, the European Union, and the French Development Agency (AFD) as part of efforts to reduce congestion, promote environmental sustainability, and improve commuting options for Lagos residents.
Daily Times
