LAGOS NIGERIA WATERWAYS SUSTAINABLE TRANSPORT

Promoter – Financial Intermediary

FEDERAL REPUBLIC OF NIGERIA

Location

• Nigeria

Description

The project will implement a waterborne, urban and mass public transport network in Lagos, by developing water corridors and related facilities. More specifically, it concerns the purchase of fully electric small-scale vessels, the construction of new passenger stations and jetties, the establishment of inland water transport (IWT) operations as well as new maintenance facilities for the fleet.

Objectives

The aim is to enhance the existing Lagos State IWT system, which is expected to play an increasing role in the local urban mobility. The project is consistent with the Lagos' 30-year development plan (2022-2052) which recognises that moving people by water is a unique asset and sustainable way of adapting the transport system to sea level rise. This is also also in line with the Lagos State Climate Action Plan (2020-2025) and Lagos Strategic Transport and Mobility Master Plan (2014-2032), which aims to increase the share of IWT in the total daily trips from less than 1% today to 8% by 2032.

Sector(s)

• Transport - Transportation and storage

Under Global Europe NDICI guarantee

Under EFSD+ Guarantee

Proposed EIB finance (Approximate amount)

EUR 170 million

Total cost (Approximate amount)

EUR 410 million

Environmental aspects

The project is expected to contribute to the EIB's climate action (mitigation and adaptation) and to environmental sustainability objectives. The EIB will require the Promoter to comply with the EIB Environmental and Social Standards.

Procurement

The Bank will require the promoter to ensure that implementation of the project will be done in accordance with the Bank's Guide to Procurement.

Status

Under appraisal - 24/09/2024