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COP28: How Lagos State Secures €410 Million Omi Eko Project

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Amidst the flurry of discussions at the 28th Conference of the Parties on Climate Change (COP28) in Dubai, Lagos State successfully secured funding procurement for the €410 million Omi Eko project.

Unveiled as an innovative endeavor, this project aims to transform the landscape of inland waterways transportation, with a resolute focus on decarbonizing public transit through a system of electric ferries.

“The Omi Eko project represents a pivotal step in our commitment to sustainable, eco-friendly transportation,” remarked Governor XYZ during the COP28, emphasizing the state’s dedication to reducing carbon emissions and embracing renewable energy solutions.

Details revealed by the Embassy of France in Abuja’s publication shed light on the comprehensive scope of the Omi Eko initiative.

READ ALSO: COP28: OPEC Urges Members To Reject Fossil Fuel Phase-Out, Stresses Emission Cuts

The plan envisions the development of 15 ferry routes spanning the Lagos lagoon, encompassing a 140-kilometer network of inland waterways. These routes will be marked and dredged to facilitate efficient transit.

Key components of this visionary project encompass the refurbishment of 25 ferry terminals and jetties, alongside the acquisition of 75 electric-powered vessels. Integral to the endeavor is the implementation of charging stations at pontoons, powered by a cutting-edge Battery Energy Storage System (BESS) supported by solar PV panels, the grid, and a backup CNG generator.

A critical aspect of the Omi Eko project is its emphasis on sustainability through routine maintenance equipment, a Control Centre for the IWT network, and an inclusive ticketing system.

The Lagos State Waterways Authority, serving as the implementing body, will offer technical and engineering support to ensure seamless execution.

“With an estimated reduction of 41,000 tCO2 per year, the Omi Eko project is poised to make a significant environmental impact,” highlighted an official statement from the Embassy of France in Nigeria, stressing the potential of this initiative in combatting climate change.

This investment secured through an AFD loan of €130 million, an EIB loan of €170 million, a €60 million grant from the European Union, and the remaining contribution from the Lagos State government marks a milestone in sustainable infrastructure development, positioning Lagos as a frontrunner in climate-conscious public transportation initiatives.

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