Lagos State's long-anticipated inland waterways transportation project being developed in partnership with the European Union has transited from the blueprint to a reality.

Governor Babajide Sanwo-Olu, on Friday, formally launched the EUR 410 million waterways infrastructure project aimed at developing rapid transportation options that will address Lagosians' mobility needs.

The project, divided into two components, will be implemented by the Lagos State Waterways Authority (LASWA), with the second component expected to be completed by 2030.

Lagos secured the funding for the project via the Global Gateway Initiative, the French Development Agency (AFD), the European Union (EU) and the European Investment Bank (EIB), which earmarked a subsidised loan of EUR 360 million for the project.

The first component of the project covers channelisation, marking and dredging of 140km of ferry routes from which Lagos will be developing 15 priority ferry routes, including constructing high-quality infrastructure and facilities.

The entire Inland Waterways Transport infrastructure comprises 25 ferry terminals and jetties with electric charging facilities to power e-vessels. There will be onshore depots for routine vessel maintenance, while land connections, including road surfacing, will be developed for other transport services connecting to ferry terminals.

Sanwo-Olu described the Omi-Eko launch as "historic", noting that the event was not just an unveiling ceremony but a "bold statement" reaffirming Lagos' frontline leadership in delivering a sustainable integrated water transportation ecosystem.

The Governor said exploring the full range of waterways transportation was a critical priority in his administration's THEMES+ Agenda to transform mobility in the metropolis.

He said: "Every Lagosian knows the frustration of traffic. But a few will remember that Lagos began as a network of islands, knitted together by water. Long before bridges connected city, boats carried dreams, goods, and people across the lagoons. This water body nourishes us, shapes the State's identity and now, it will carry us into the future.

"The OMI-EKO project is a comprehensive, future-oriented blueprint for sustainable mobility in Lagos. It merges technology, environmental stewardship and smart design to create waterways that are not just navigated, but optimised. This is the kind of innovative projects cities around the world are building to confront the twin challenges of urban population growth and climate change. Lagos is not waiting to catch up, we are setting the pace."

The project, it was said, would reduce the negative impact of transport on health, while also reinforcing the State's ability to fight climate change. It would promote inclusive, more resilient means of mobility.

The investment would bring decarbonised transportation in Lagos, reducing CO2 emissions by 41,000 tonnes yearly. It is expected to take 25,000 passengers yearly, saving travel time by 3hrs on each trip.

Sanwo-Olu said the investment's objective was to make transportation through water seamless, reduce carbon footprint, the air cleaner and transform waterways from barriers of separation into corridors of opportunity.

The Governor said: "The launch of this project is more than a ceremonial curtain pull. It is a covenant with our people, our planet, and with future generations. With OMI-EKO, we are lifting not only boats but lives, businesses, and communities. We are signaling that Lagos is ready to lead Africa's urban transition by this bold, sustainable, and inclusive investment."

Former Governor Babatunde Raji Fashola, who created LASWA in 2008, graced the ceremony to witness the historic project.

The former Works and Housing Minister hailed the Sanwo-Olu administration for nurturing the agency to a viable global entity.

Fashola said the OMI-EKO project would further expand the scope of the State's integrated transportation network, expressing optimism that the project would not stall, given the commitment of the European partners.

Commissioner for Transportation, Mr. Seun Osiyemi, said the project would unlock the full potential of Lagos inland waterways, bringing the final piece of the State's Integrated Multimodal Transportation System to life.

"OMI-EKO aligns with broader Lagos Transport Policy, which promotes sustainability, inclusivity, and innovation, while ensuring that transport solutions serve the people while protecting the environment. The project is not just about ferry operations; it is about empowering communities, creating jobs, easing congestion, and reducing our carbon footprint."

Special Adviser to the Governor on Blue Economy, Mr. Damilola Emmanuel, who doubles as LASWA's head, noted that the OMI-EKO project was no longer a dream, but a reality that would be changing the course of transportation in Lagos.

He said the 70 hybrid electric ferries that would be deployed after the completion of the project would reduce pollutants' emissions and boost clean mobility

The LASWA boss said 20 existing jetties would be upgraded with modern terminals across 15 major water routes.

Emmanuel said: "In the first phase, there will be dredging and channelisation of 15 ferry routes for safer and faster transport. Part of the benefits include technology transfer and capacity development for key agencies in the waterways, especially LASWA.

"There will be funding for the informal boat sector under our Vessel Industry. This is how we build a water-based economy that works for all — from operators to passengers, from private investors to our citizens."

French Minister for Europe and Foreign Affairs, Mr. Jean-Noel Barrot, said the project received complete support from EU partners, given the untapped opportunities in Lagos waterways.

The envoy said the OMI-EKO project represented the "best possible" example of what partnership could achieve for the benefit of the people, pointing out that the development was part of the success of the bilateral cooperation reached during President Bola Ahmed Tinubu's recent visit to the French President Emmanuel Macron.

The EU Ambassador in Nigeria, Mr. Gautier Mignot, noted the partnership was an historical milestone for Lagos and EU member states, stressing that the investment would enhance life quality.

"This investment supports development of 12 strategic waterways corridors to enhance secure and efficient sustainable transport networks. Four of these corridors are located in West Africa. We are proud to be part of this project which showcases all the aspects of global gateway development," Mignot said.