EIB’s £170m bet on Lagos’s transport future

By Tunde Ajayi
Lagos is the most densely populated Nigerian state.   And every day, millions of residents hit the road in pursuit of livelihoods. Over the years, no matter how much the road network expanded, Lagos, at over 20 million residents, struggled to keep pace with a fast-growing population. From a pragmatic viewpoint, to ease transportation in the state, mere road expansion would not cut it. It demands innovation.
That is why the news that the European Investment Bank, through its development arm, EIB Global, is committing €170 million to Lagos’ Omi Eko Water Transport Project is a relief. Though it is an infrastructure loan, it is also a vote of confidence in the direction ...