Sanwo-Olu Gains EIB Support for Water Transport Project

Lagos State Governor Babajide Sanwo-Olu received a delegation from the European Investment Bank (EIB), led by Vice President Ambroise Fayol, to discuss support for the Omi Eko water transport project. Sanwo-Olu described the project as a significant investment that will transform urban mobility and improve the quality of life for residents.

The initiative aligns with the administration's transport and traffic management agenda, aiming to develop an integrated transport system that combines road, rail, and water transport. The Omi Eko project will provide modern, climate-resilient water transport infrastructure, including improved terminals and safer navigation channels, which is expected to reduce travel time from two hours to approximately 40-45 minutes.

Sanwo-Olu expressed gratitude for the EIB's support, which also extends to Nigeria's small and medium-sized enterprises sector. Fayol noted that Nigeria has become the EIB's largest country operation in Africa, with a total lending value of €550 million aimed at fostering growth in partnership with the European Union.