🇳🇬NigeriaWest Africa
Lagos Governor Sanwo-Olu secures European Investment Bank support for Omi Eko water transport project
via Punch Nigeria2 min read
Lagos State Governor, Babajide Sanwo-Olu, has lauded the European Investment Bank EIB for its backing of the Omi Eko Project, an initiative aimed at transforming urban mobility and enhancing residents' quality of life. During a visit from an EIB delegation led by Vice President Ambroise Fayolle, Governor Sanwo-Olu stated that the project aligns with his administration’s THEMES+ agenda, particularly its Transportation and Traffic Management pillar. The Omi Eko Project, meaning “Water of Lagos,” will establish modern and climate-resilient water transport infrastructure, including improved terminals, safer navigation channels, and enhanced commuter services. This is expected to significantly reduce travel times for residents. Governor Sanwo-Olu also acknowledged the support from the African Development Bank and other development partners for the state's sustainable transportation network. He further welcomed the EIB’s investment in Nigeria’s small and medium-scale enterprise sector. Fayolle noted that Nigeria is projected to become the EIB’s largest country of operations in Africa in 2025, with total lending valued at €550 million. He highlighted a recent €200 million facility with the Development Bank of Nigeria for digital and green investments by micro, small, and medium-sized enterprises, and a financing agreement with Wema Bank to improve access to finance for underserved businesses. Fayolle described the Omi Eko Project as a flagship European Union initiative in Lagos, fin
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This summary was AI-generated from a story originally published by Punch Nigeria.
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