Lagos State has secured €410 million in funding for the Omi Eko project at the ongoing 28th Conference of the Parties on Climate Change (COP28) in Dubai, UAE.
The project aims to develop mass public inland waterways transport (IWT) with electric ferries (e-ferries) as part of the Lagos State Climate Action Plan 2020–2025.
The funding for the project will come from various sources, including an AFD loan of €130 million, an EIB loan of €170 million, and a grant of €60 million from the European Union. The remaining amount will be provided by the Lagos State government.
The project is expected to reduce carbon emissions by approximately 41,000 CO2 per year, according to a publication on the website of the Embassy of France in Abuja.
The Omi Eko project, initiated by the Lagos State Government, aims to create 15 ferry routes that will span the Lagos lagoon. This will involve developing a network of 140 kilometres for inland water transportation, which will be marked and dredged.
Additionally, the Omi Eko project includes the improvement of 25 ferry terminals and jetties, as well as the procurement of 75 electric-powered vessels.
To support the inland waterways transportation project, charging stations will be installed at pontoons. These stations will be powered by a Battery Energy Storage System (BESS) that will be supplied by solar PV panels. The BESS will be backed up by the grid and a CNG backup generator.
The Omi Eko project will be equipped with equipment for regular maintenance, a Control Centre for the IWT network, and related systems such as ticketing. Additionally, the Lagos State Waterways Authority will serve as the project implementer by providing technical and engineering assistance.
