EU Announces Plans For Kick-Off Of €410m Project In Lagos
The European Union (EU) has confirmed that the €410m ‘Omi Eko’ project, an ambitious inland waterways transportation initiative in Lagos, will officially kick off by the end of June.
This announcement came during a high-level meeting between the EU delegation led by the ambassador to Nigeria and the Economic Community of West African States (ECOWAS), Mr Gautier Mignot, and Lagos State Governor, Mr Babajide Sanwo-Olu, at the Lagos State House in Marina on Thursday.
The talks centred on deepening EU-Lagos cooperation and accelerating multilateral investment in infrastructure.
The ‘Omi Eko’ project will be co-financed by the EU, French Development Agency (AFD), European Investment Bank (EIB), and the Lagos State Government.
Mignot confirmed that project agreements are ready for signing and that a formal groundbreaking ceremony will take place next month.
“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 launch event in Lagos where I will be joining the French ambassador to make a landmark investment decision,” he said.
The ambassador said a plan was underway to further strengthen economic cooperation with Lagos, noting that the European Chamber of Commerce had been repositioned to be more flexible and strategic in its broad economic partnerships in Nigeria.
Sanwo-Olu welcomed the EU’s deepening involvement in Lagos, especially the potential entry of an EU-owned infrastructure development bank into Nigeria’s financial system.
He reassured the delegation of the state’s commitment to safeguarding all foreign investments.
The governor said the ‘Omi Eko’ initiative would harness the economic potential of the state’s aquatic ecosystem to solve socio-economic problems while providing alternatives for the residents in mobility.
“With the 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 an 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 bequeath to change the face of the public transport system in Lagos,” Sanwo-Olu added.
EU Announces Plans For Kick-Off Of €410m Project In Lagos is first published on The Whistler Newspaper
