• Business
  • Energy
  • Markets
  • Intelligence
    • Policy Intelligence
    • Fashion Intelligence
    • Economic Intelligence
    • Security Intelligence
  • Technology
  • Infrastructure
  • Politics
  • LBNN Blueprints
  • Business
  • Energy
  • Markets
  • Intelligence
    • Policy Intelligence
    • Fashion Intelligence
    • Economic Intelligence
    • Security Intelligence
  • Technology
  • Infrastructure
  • Politics
  • LBNN Blueprints
LIVE MARKETS
Initializing...
Home Business

Africa’s biggest waterway investment sets sail in Nigeria with $410 million project

Simon Osuji by Simon Osuji
October 20, 2025
in Business
0
Africa’s biggest waterway investment sets sail in Nigeria with $410 million project
0
SHARES
4
VIEWS
Share on FacebookShare on Twitter

The Omi Eko Project, meaning “Water of Lagos,” aims to turn the state’s underused waterways into a sustainable, innovative, and efficient transport ecosystem that rivals some of the world’s most advanced blue economies.

Speaking at the official launch in Lagos on Friday, Governor Babajide Sanwo-Olu described Omi Eko as “a blueprint for sustainable urban mobility,” adding that the project would transform Lagos waterways from barriers of separation into “corridors of opportunity.”

“Our goal is clear: a Lagos where movement is seamless, where the air is cleaner, and where the waterways become corridors of opportunity rather than barriers of separation,” Sanwo-Olu said.

He emphasised that the initiative blends innovation, clean energy, and environmental stewardship to redefine mobility across Africa’s largest city.

“We are not just improving transportation; we are redefining mobility. We are not just managing water; we are mastering the possibility,” the governor declared.

Africa’s largest inland waterway investment

Team Blue Rising's (R) electric boat is followed by Team Drogba's electric boat (L) as they race on the Lagos Lagoon during the E1 final race on October 5, 2025. [Photo by OLYMPIA DE MAISMONT/AFP via Getty Images]

Emmanuel said the $410 million initiative would deploy over 70 hybrid-electric ferries, upgrade 20 jetties and terminals, and dredge 15 key routes to ensure safer and faster transport. It will also empower small operators through a vessel industry transition program, promoting capacity development and greener operations.

“We are living the dream. As Lagos learns to move with its waters, it will discover the rhythms of its prosperity. The journey has just begun, and the future of Lagos lies in harnessing the blue economy for shared progress,” Emmanuel said.

Europe’s global gateway partners with Africa’s megacity

L-R: A foreign investor having a conversation with Lagos State's Governor Babajide Sanwo-Olu. [X, formerly Twitter/@jidesanwoolu]

EU Ambassador to Nigeria and ECOWAS, Gautier Mignot, said Europe’s support aligns with the Abidjan–Lagos Transport Corridor, a critical component of the EU’s Global Gateway Strategy, designed to connect Africa’s economic powerhouses through sustainable infrastructure.

“Africa is home to some of the fastest-growing cities, and Lagos is a prime example. Scaling transport systems like Omi Eko will have tangible impacts on the lives of millions of urban dwellers,” Mignot said.

Nigeria–France partnership anchors innovation

France's President Emmanuel Macron (R) welcomes Nigerian President Bola Tinubu prior to their meeting at the Elysee palace on November 28, 2024 in Paris, France. [Photo by Antoine Gyori - Corbis/Corbis via Getty Images]

French Minister for Europe and Foreign Affairs, Jean-Noël Barrot, described Omi Eko as a landmark product of Franco–Nigerian cooperation, highlighting its long-term resilience in combating climate change.

“These unique electric ferries will thrive amid rising sea levels and suppress carbon emissions,” Barrot said.

With Omi Eko, Lagos joins a growing list of African cities turning to their waters for solutions, from Cairo’s Nile commuter routes to Dakar’s blue transport systems, positioning Africa’s coastline as the next frontier for sustainable growth.

Source link

Previous Post

Understanding Common M-PESA Scams – Africa Business News

Next Post

Group marks 10 years, targets hunger relief for PWDs – EnviroNews

Next Post
Group marks 10 years, targets hunger relief for PWDs – EnviroNews

Group marks 10 years, targets hunger relief for PWDs - EnviroNews

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

POPULAR NEWS

  • Mahama attends Liberia’s 178th independence anniversary

    Mahama attends Liberia’s 178th independence anniversary

    0 shares
    Share 0 Tweet 0
  • Ghana to build three oil refineries, five petrochemical plants in energy sector overhaul

    0 shares
    Share 0 Tweet 0
  • The world’s top 10 most valuable car brands in 2025

    0 shares
    Share 0 Tweet 0
  • Top 10 African countries with the highest GDP per capita in 2025

    0 shares
    Share 0 Tweet 0
  • Global ranking of Top 5 smartphone brands in Q3, 2024

    0 shares
    Share 0 Tweet 0

Get strategic intelligence you won’t find anywhere else. Subscribe to the Limitless Beliefs Newsletter for monthly insights on overlooked business opportunities across Africa.

Subscription Form

© 2026 LBNN – All rights reserved.

Privacy Policy | About Us | Contact

Tiktok Youtube Telegram Instagram Linkedin X-twitter
No Result
View All Result
  • Home
  • Business
  • Politics
  • Markets
  • Crypto
  • Economics
    • Manufacturing
    • Real Estate
    • Infrastructure
  • Finance
  • Energy
  • Creator Economy
  • Wealth Management
  • Taxes
  • Telecoms
  • Military & Defense
  • Careers
  • Technology
  • Artificial Intelligence
  • Investigative journalism
  • Art & Culture
  • LBNN Blueprints
  • Quizzes
    • Enneagram quiz
  • Fashion Intelligence

© 2026 JNews - Premium WordPress news & magazine theme by Jegtheme.