Lagos City Infra

pending

Lagos State is divided into 20 Local Government Areas, of which 16 form Metropolitan Lagos. Metropolitan Lagos is one of the world’s largest cities with a population estimated to reach 25 million by 2025. The population is largely reliant on public transport, but the existing public transport system is widely considered to be inefficient, expensive, low quality and dangerous both in terms of road traffic accidents and personal safety. The proposed project involves a strategic engagement with Lagos State to support the development of two Quality Bus Corridors (“QBC”) (the “Project”). The development of the two QBCs will cost approximately US$50 million. IFC’s proposed investment will be an A loan of the Nigerian naira (“NGN”) equivalent of up to US$50 million. The QBCs are part of the Lagos State Transport Master Plan Project (LSTMPP), an ambitious city-wide reform of the public transportation services in Lagos, which was developed in part with financing from the World Bank (WB) and implemented by the Lagos Metropolitan Transport Authority (LAMATA). LAMATA is the transport planning, implementing, regulating, and franchising authority of the Lagos State Government. The two QBCs originally identified for IFC financing in 2018 were Command – Abule Egba (6 km) and Ile Ile – Ile Epo (4.3 km), both along existing road networks. The related activities included road infrastructure improvement, rehabilitation of pedestrian walkways to improve walking conditions and accessibility to public transport services, rehabilitation of drainage, improvements of road junctions, provision of dedicated lanes for public transportation buses, construction of new bus terminals for each QBC (a hub passenger pick up and drop off), and installation of a number of additional bus stops (laybys) / flags at each QBC. Buses will be sheltered, maintained, and refueled at a bus depot. The ESRS and ESAP for this transaction were updated to reflect that in 2024, the intended use of IFC proceeds changed to financing two different QBC packages (comprising four corridors). The four corridors are Ojuelegba – Idi Araba – Ilasamaja (3.5 km); Anthony – Oshodi (2 km); and Oshodi – Onipanu (4.1 km) (packaged together as QBC package 1); and Iyana Ipaja – Ayobo (9.3 km) (QBC package 2). The project activities remain the same as those of the original QBCs. The construction works will begin in early 2025 and are expected to be completed by the end of 2027.