ABUJA, Nigeria (VOICE OF NAIJA)-Lagos State Governor Babajide Sanwo-Olu met on Thursday with the European Union (EU) Ambassador to Nigeria and ECOWAS, Mr. Gautier Mignot, to deepen existing Lagos-EU cooperation and explore broader multilateral business opportunities.
The meeting, held at the State House in Marina, Lagos, focused on the proposed ‘Omi Eko’ project a transformative €410 million initiative aimed at upgrading Lagos’ inland waterways into a world-class transport corridor.
The EU envoy led a delegation from Abuja to advance discussions on the partnership.
Jointly funded by public and private equities, the project is being developed through the collaboration of the European Union, the French Development Agency (AFD), the European Investment Bank (EIB), and the Lagos State Government. Implementation oversight will be shared among the partners.
Sanwo-Olu expressed optimism over the project’s progress, revealing that following the completion of feasibility studies, the project is scheduled to commence next month.
He described ‘Omi Eko’ as a solution-driven initiative poised to unlock the State’s aquatic economy while improving mobility options for Lagos residents.
“With 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,” Sanwo-Olu said.
“The entire project fits into our vision of delivering 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 be bequeathing to change the face of public transport system in Lagos.”
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The Governor highlighted the project’s potential to boost tourism and position Lagos as a preferred destination for foreign investors.
He urged partners to ensure prompt disbursement of funds and front-loading of materials needed for the project’s civil works.
Sanwo-Olu also welcomed the entry of the EU-backed Infrastructure Development Bank into Nigeria’s financial sector, calling it a positive step.
He reiterated Lagos State’s readiness to enhance bilateral ties and ensure the security of foreign investments.
In response, Ambassador Mignot conveyed encouraging updates from EU investors and confirmed that groundbreaking for the project would take place by the end of June.
“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 launching event in Lagos where I will be joining the French ambassador to make landmark investment decision,” Mignot said.
He praised Lagos for its commitment to its EU partnerships and noted that the bulk of European economic activity in Nigeria is concentrated in the state.
Mignot also announced ongoing efforts to enhance collaboration through a more agile and strategic European Chamber of Commerce.
The ambassador further expressed the EU’s growing interest in Nigeria’s technology sector, with German development agency GIZ playing a leading role in driving digital innovation and capacity building.