Lagos State has secured funding for the €410 million Omi Eko project at the ongoing 28th Conference of the Parties on Climate Change being held in Dubai, UAE.
The Times reported that an AFD loan of €130 million, an EIB loan of €170 million, a grant of €60 million from the European Union, and the remaining amount from the Lagos State government will finance the investment for the inland waterways transport project.
This information was gotten from a publication that appeared on the French Embassy’s website in Abuja.
The Lagos State Government launched the Omi Eko project as part of the Lagos State Climate Action Plan 2020–2025 with the goal of developing mass public inland waterways transport using electric ferries in order to decarbonize public transport.
The article on the website of the French Embassy in Nigeria projects that the Omi Eko project will significantly reduce carbon emissions, with an estimated 41,000 tCO2 annually.
With the Omi Eko project, the Lagos State Government hopes to create 15 ferry routes that cross the Lagos lagoon, including a 140-kilometer marked and dredged IWT network.
In addition, the Omi Eko project calls for the purchase of 75 electric-powered boats in addition to the renovation of 25 ferry terminals and jetties.
The inland waterways transport project will also include pontoon-based charging stations that will be fueled by solar PV-powered Battery Energy Storage Systems. The grid and a backup CNG generator would power the BESS.
The Omi Eko project will also have a Control Centre for the IWT network, equipment for routine maintenance, and related systems like ticketing.
Furthermore, the Lagos State Waterways Authority would act as the project’s implementer by offering engineering and technical support.
