Sanwo-Olu to host global summit on blue economy, coastal resilience

The French Development Agency (AFD), European Union (EU), and European Investment Bank (EIB) are set to support the Lagos State Government to revolutionize ferry transport with the launch of the Omi Eko Project—an ambitious initiative designed to restructure, upscale, the city’s waterways.

The transformative project will establish an organised, efficient, and affordable ferry system that enhances connectivity and improves the daily lives of residents in Lagos.

The project, implemented by the Lagos State Waterways Authority (LASWA), is supported technically and financially by a consortium of European partners, led by the AFD, with a loan of 130 million euros, and jointly funded by the EIB with a loan of 170 million euros, and the EU with a grant of 60 million euros.

According to the Minister of France for Europe and Foreign Affairs, Jean-Noël Barrot, “Through Omi Eko, Nigeria, with the support of France and the EU, is leading the way in putting innovative and sustainable mobility at the service of people’s needs, at the heart of Lagos.”

Corroborating, Ambassador of the EU in Nigeria, Gautier Mignot, stated: “Nigeria and Lagos are spearheading the execution of global gateway projects.”

Meanwhile, Lagos State Governor, Babajide Sanwo-Olu, yesterday, reaffirmed the state’s commitment to advancing sustainable growth through innovation and investment in resilience as it hosts the 2025 International Climate Change Summit.

A statement signed by the Commissioner for the Environment and Water Resources, Tokunbo Wahab, quoted the governor as noting that Lagos will continue to demonstrate leadership in subnational climate action and developing practical mechanisms for city-level climate finance.

The governor reiterated that the state had also been developing blue bonds, and nature-based coastal protection projects that are shaping Africa’s next decade of sustainable urban development.