Lagos Secures €410 Million for Blue Economy Development.
The Lagos State Government has successfully secured €410 million in funding to advance its blue economy initiatives, focusing on integrating road, rail, and water transportation systems. This ambitious project aims to create a seamless, affordable, and sustainable commuting experience for residents, with a strong emphasis on decarbonizing public transportation.
Ope George, the Commissioner for Economic Planning and Budget, highlighted that the funds will be used to develop a mass public inland waterways transport system featuring electric ferries (e-ferries). The project includes upgrading 25 ferry terminals and jetties, acquiring 75 electric-powered vessels, and establishing 15 ferry routes across the Lagos lagoon.
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This initiative is part of a broader commitment by the state government to enhance the welfare of its citizens. George emphasized the government’s focus on social protection, noting that it was a priority in the 2024 budget and will continue to be in the 2025 budget. The initiative reflects a holistic approach to improving the lives of Lagos residents, extending beyond infrastructure to include social protection measures.
