Africa’s Biggest Waterway Investment Sets Sail in Nigeria

Lagos, Nigeria.
Nigeria has launched a landmark US $410 million waterway infrastructure initiative in Lagos, which is touted as Africa’s largest investment of its kind. The project aims to modernise water transport, ease severe road congestion, and provide an alternative transit network across the city’s 15 major waterways.

Key features of the project:

Deployment of some 70 hybrid-electric ferries and upgrade of 20 terminals along Nigerian coastal waterways.

Backing by significant international partners, including European institutions like the AFD (French Development Agency) and EIB (European Investment Bank).

An explicit climate-resilience and emissions-reduction goal: the ferry system alone is projected to cut approximately 41,000 tonnes of CO₂ annually.

Why this matters:

Urban mobility: Lagos is one of Africa’s most congested cities — introducing a modern waterway transport option can significantly shift commuting patterns, reduce travel times and costs.

Economic spill-overs: Improved mobility can unlock productivity gains, reduce logistics costs, and open new job opportunities in maritime/transport sectors.

Climate & sustainability: Africa’s infrastructure expansion often comes with environmental trade-offs; here the integration of low-carbon ferries and terminals is a positive sign of sustainable thinking.

Regional leadership: Nigeria taking this bold step may serve as a model for other African megacities (Accra, Nairobi, Dar es Salaam) grappling with similar transport/logistics constraints.

What to watch:

The rollout speed and whether the target ferry-fleet and terminals are delivered on schedule.

Ridership uptake: Will Lagos commuters embrace waterways over roads?

Financing and maintenance: Will ongoing funding cover operations, maintenance and eventual expansion?

The ripple effect: Whether this prompts similar infrastructural investments in other African cities.