By Njoku Chijioke Michael
The Lagos State Government successfully won €410 million in funding for the ambitious Omi Eko project during the 28th Conference of the Parties on Climate Change (COP28) in Dubai, UAE. This financial assistance, provided by AFD, EIB, the European Union, and the Lagos State government, represents a big step forward in sustainable and eco-friendly transportation projects.
The Omi Eko project, an integral component of the Lagos State Climate Action Plan 2020-2025, aims to revolutionize public transportation by decarbonizing through the development of mass public inland waterways transport (IWT) utilizing electric ferries (e-ferries). The project’s anticipated impact is substantial, with an expected carbon reduction of approximately 41,000 tCO2 per year.
The breakdown of the funding includes a €130 million loan from AFD, a €170 million loan from EIB, a €60 million grant from the European Union, and the remaining contribution from the Lagos State government. This financial collaboration underscores the shared commitment to advancing sustainable transportation and combating climate change.
Addressing COP28, the Lagos State government emphasized the strategic importance of the Omi Eko project, stating, “The Omi Eko project represents a pivotal step in our commitment to sustainable, eco-friendly transportation.” The governor reiterated the state’s dedication to reducing carbon emissions and embracing renewable energy solutions to foster a more sustainable future.
Details from the Embassy of France in Abuja’s publication revealed the comprehensive scope of the Omi Eko initiative. The plan envisions the development of 15 ferry routes across the Lagos lagoon, creating a 140-kilometer network of inland waterways meticulously marked and dredged to ensure efficient transit.
Key components of this visionary project include the refurbishment of 25 ferry terminals and jetties, along with the acquisition of 75 electric-powered vessels. The introduction of these electric vessels is poised to reinvigorate waterways transportation, contributing significantly to the overall impact of the Omi Eko project.
