Lagos Ferry Services Company

Name

Lagos Ferry Services Company

Legal name

Lagos Ferry Services Company

Website

https://lagferry.gov.ng

Company type

Private

Founded year

2020

Operating status

Operating

Ownership category

akta.pro rank

Product category

Passenger Ferry and Water Transportation Services

NAICS

Inland Water Passenger Transportation (483212), Water Transportation (483)

SIC

Water Transportation (4400), Local & Suburban Transit & Interurban Hwy Passenger Trans (4100)

akta.pro primary industry

Passenger Ferry Operators (Interisland/Intercity) (TLAFALAA)

akta.pro secondary industries

Tourist & Scenic Passenger Ferries (Non-Cruise) (THAIAJAH), Tourist & Scenic Ferry Services (THAEAGAE)

Keywords

• Passenger ferry services
• Inland waterway transport
• Cargo barge logistics
• Ferry charter rentals
• Multimodal transit services

Headquarters

HQ city

Amuwo

HQ country

Nigeria

HQ region

Africa

Offices14 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Infrastructure, Supply Chain, Personnel, Marketing or Sales, Technology or R&D

Revenue model

1. Passenger Ferry Services: Core revenue from transporting passengers across 27 routes on the Lagos inland waterways. Passengers pay per trip using cash or the Cowry Card payment system. Fares are affordable and designed as an alternative to road transport.
2. Ferry Rental Services: The MV Adimu Orisa 180-tonnage barge is available for charter, enabling the agency to host events such as weddings, birthdays, conferences, musical concerts, and movie screenings on the waterways.
3. Cargo/Barge Operations: Logistics cargo barge services for large conglomerates including Dangote Industries, Crown Flour Mills, Honeywell Flour Mills, and BUA Group, moving goods and trucks from Mile 2 to Apapa on the waterways, alleviating pressure on roads.
4. Eko Token Loyalty Programme: In partnership with Cash Token Africa, passengers who purchase tickets above N5,000 earn instant cash rewards and tokens qualifying them for weekly draws. This drives repeat usage and loyalty.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels8 records

Core offering

Lagos Ferry Services Company (LAGFERRY) operates water-based passenger and vehicle ferry services across Lagos State's inland waterways, transporting commuters between 17 terminals and jetties along approximately 25 to 27 routes. In addition to scheduled passenger ferries, the agency provides ferry rental and charter services (notably via the 180-tonnage MV Adimu Orisha barge), cargo and barge logistics for industrial clients, and water tourism experiences such as Barge Cinema and themed cruise events.

Product overview

LAGFERRY operates as a government-owned ferry services provider delivering water transportation across Lagos State's inland waterways. The portfolio consists of core passenger ferry transportation services connecting 17 terminals across 27 routes, ferry rental/charter services using the 180-tonnage MV Adimu Orisha barge for events and private hire, cargo barge operations serving industrial clients, and water tourism offerings including barge cinema and cruise events. The company is expanding with planned electric-powered boats for sustainability. Services are accessible via the Cowry Card electronic payment system and supported by a loyalty program (Eko Token).

Differentiator

Problem solved

Functional benefit

Products and services

• Ferry Transportation Public water transportation service providing passenger ferry services across 27 routes on the Lagos Lagoon inland waterways, connecting 17 terminals and jetties across Lagos State divisions including Ikorodu, Falomo-Ikoyi, Ajah, CMS/Marina, Ojo, Amuwo Odofin, and Apapa.
• Ferry Rental Services Charter services allowing private hire of LAGFERRY vessels for events, corporate functions, and special occasions. The 180-tonnage MV Adimu Orisha barge seats over 200 guests and hosts weddings, birthdays, conferences, musical concerts, and other events while cruising the Lagos coastline.
• Cargo Operations Logistics and barge services moving cargo, trucks, and containers on the Lagos waterways. Services include moving trucks from terminals and handling cleared goods containers from ports, serving conglomerates such as Dangote Industries, Crown Flour Mills, Honeywell Flour Mills, and BUA Group on the Mile 2 to Apapa corridor.
• Barge Cinema Water tourism entertainment offering movie screenings aboard the MV Adimu Orisha barge. Premier event featured screening of the movie 'Michael' based on Michael Jackson's life, combining entertainment with scenic waterfront views.
• Ferry Terminals and Jetties Network Network of 17 terminals and jetties across Lagos State including Five Cowries Terminal (Falomo-Ikoyi), CMS/Marina Terminal, Elegbata Jetty, Ebute Ero, Apapa Liverpool Jetty, Mile 2 Terminal, Ijede Terminal, Ebute-Ojo Terminal, Badore Terminal (Ajah), Ipakodo Terminal (Ikorodu), Bayeku Jetty, Bariga Waterfront Terminal, Aiyetoro Jetty (Epe), and Igbo-Olomi Jetty (Ibeju-Lekki), providing Park and Ride, ATM, and restaurant amenities.
• Seven New High Capacity Boats Commissioning of seven new high-capacity passenger boats - MF Elegushi (30 pax), MF Apapa (30 pax), MF Onigando (30 pax), MF Majidun (30 pax), MF Zangbeto (50 pax), MF Eko Akete (50 pax), and MF Ehingbeti (utility boat) - built by Nigerian boat builders Sierra Craft Limited, V-craft Limited, and Niger Benue Transport Company (NBTC).
• Eko Token Reward System Cash reward program for boat passengers launched in collaboration with Cash Token Africa. Passengers can earn tokens and instant cash rewards for purchases above N5,000, with prizes up to N100 million available through weekly draws.
• Cowry Card Payment System Electronic payment card system for water transportation fares that enables multimodal transport integration connecting rail, bus, and boat services. Passengers can use the card across all LAGFERRY routes and terminals for seamless fare payment.

Quantifiable outcome

• 4.4 million passengers ferried in under 6 years of operations (February 2020 to early 2026)
• +6 more outcomes

Named customers7 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Eleven partnerships are on record, tiered minor and core.

• Lateef Jakande Leadership Academy (LJLA)minorStrategic or Co-development Partner · 1 April 2026LAGFERRY hosted Fellows of the Lateef Jakande Leadership Academy on a Brown Bag Series visit, offering an experiential cruise aboard the MV Adimu Orisa barge from Five Cowries Terminal. The Managing Director briefed fellows on LAGFERRY's history, milestones, and role in Lagos water transportation as part of the Academy's governance and policy training programme.
• Lagos State Ministry of Tourism, Arts and Culture (Event Partnership)coreStrategic or Co-development Partner · 1 July 2024LAGFERRY partnered with the Ministry of Tourism, Arts and Culture for the 'Fuji Fusion Lori Omi' event featuring top Fuji musicians (Pasuma Wonder, Malaika, Atawewe) on the MV Adimu Orisha Barge. The event, led by Commissioner Toke Benson-Awoyinka, was part of efforts to boost water tourism and position Lagos as a prime tourist destination.
• Fuji Musicians (Pasuma Wonder, Malaika, Atawewe, Biyi Omo Mummy, Mr. Performer)minorGTM or Marketing Partner · 1 July 2024Renowned Fuji musicians headlined the 'Fuji Fusion Lori Omi' event on LAGFERRY's MV Adimu Orisha Barge, attracting large crowds and media attention to Lagos waterways as an entertainment and tourism destination.
• Cash Token AfricacoreGTM or Marketing Partner · 1 September 2022LAGFERRY partnered with Cash Token Africa to launch the 'Eko Token' reward system for waterway commuters. Passengers purchasing tickets above N5,000 earn instant cash rewards and tokens qualifying them for weekly draws with prizes up to N100 million. The initiative is designed to encourage Lagosians to embrace water transportation and create a loyalty programme.
• TV Continental (TVC)minorGTM or Marketing Partner · 1 February 2022LAGFERRY partnered with the crew of TV Continental's 'Your View' programme for the annual Valentine's Day boat cruise event. Over 120 people participated on LAGFERRY's 180-tonnage barge, sailing from Five Cowries Terminal through the Lekki-Ikoyi Link Bridge and Banana Island. The partnership generated media coverage and showcased the tourism potential of Lagos waterways.
• Lagos State Security Trust Fund (LSSTF)coreStrategic or Co-development Partner · 1 November 2021LAGFERRY donated 100 life jackets to the Lagos State Security Trust Fund (LSSTF) to strengthen security and safety on the Lagos Inland Waterways. The donation was channelled through the LSSTF to the Marine Police for enhanced patrol operations. The LSSTF has about 27 gunboats patrolling the Lagos Inland Waterways.
• Ajala.ng (Quantum Travels Limited)coreStrategic or Co-development Partner · 1 October 2021LAGFERRY, in conjunction with the Lagos State Ministry of Tourism, Arts and Culture, entered into a strategic partnership with Ajala.ng, one of Nigeria's foremost travel and tourism management companies. The partnership aims to boost domestic tourism by showcasing tourist destinations accessible via Lagos waterways and creating easy access through ferries. The Chief Operating Officer of Ajala.ng described the agreement as designed to promote local tourism, highlight water tourism beauty, and assist tourists who cannot travel internationally due to COVID-19.
• Goge AfricacoreGTM or Marketing Partner · 1 October 2021Partnership with Goge Africa television show for the 'Greater Nigeria Independence Cruise' event on October 1, 2021. The event showcased Lagos waterway beauty and tourism potential with LAGFERRY's MV Adimu Orisa barge. Goge Africa is a popular tourism television show that helped promote Lagos as a top African tourist destination.
• Administrative Staff College of Nigeria (ASCON)coreStrategic or Co-development Partner · 1 August 2021ASCON, Badagry entered into a strategic mobility partnership with LAGFERRY enabling staff, clients, and visitors to be ferried through the waterways from Mile 2 Terminal to the college. The partnership addresses road rehabilitation challenges on the Badagry Expressway and leverages the college's waterfront location. LAGFERRY's 20 state-of-the-art boats from 16+ terminals serve as the transport mechanism.
• United Nations World Food Programme (WFP)minorStrategic or Co-development Partner · 1 October 2020The UN World Food Programme partnered with LAGFERRY during Independence boat tours, with WFP's Exploring Team joining the Bariga-Makoko-Falomo voyage in preparation for their Foods Relief project at Makoko and other areas of Lagos State. This collaboration supported the humanitarian mission while showcasing LAGFERRY's capabilities.
• Lagos State Ministry of Tourism, Arts and CulturecoreStrategic or Co-development Partner · 1 October 2020Collaboration with the Lagos State Ministry of Tourism, Arts and Culture for Nigeria's 60th Independence Anniversary boat tours. LAGFERRY organized tours to historic landmarks including the First Storey Building in Nigeria, Point of No Return, and Slave Barracoon in Badagry, as well as Aiyetoro Market, Epe Resort, and other tourist destinations. The Ministry provided tour guides for the excursions.

Scale indicators14 records

Recent moves10 records

Expansion highlights5 records

Direct peers

• Thames Clippers (Uber Boats by Thames Clippers): London's leading commuter river bus service operating branded passenger vessels on the Thames with branded fleet, contactless payment, and event charters. Comparable as a public-transport-aligned urban commuter ferry operator with similar technology and passenger experience.
• Sealink Ferries: Nigerian water transportation company providing passenger ferry services. Comparable in target market (Lagos commuters) and vessel technology, offering a private competitive reference point.
• NYC Ferry: City-contracted commuter ferry network across New York Harbor, operated by Hornblower. Highly comparable to LAGFERRY in terms of city/municipal backing, multimodal integration, branded commuter vessels, and safety standards.
• Metro Ferries (Lagos): Private Lagos-based passenger ferry operator serving similar Lagos Lagoon commuter routes. Provides a private-sector benchmark for fare pricing, route economics, and customer service against LAGFERRY's government-owned model.
• Star Ferry (Hong Kong): Iconic passenger ferry operator in Victoria Harbour, Hong Kong, providing short-haul commuter and tourist services. Comparable as a harbor passenger ferry with strong brand, sightseeing overlay, and high passenger throughput.
• Tarzan Marine Services: A leading private ferry operator in Lagos offering passenger water transport across Lagos Lagoon. Competes directly with LAGFERRY on overlapping Ikorodu, CMS and Island routes using comparable vessels.

Regional players

• Calabar River Cruise / Cross River Tourism: Other Nigerian state-backed or private water tourism operations outside Lagos (e.g., Calabar). Comparable in business model combining government backing with tourism/event cruises, but operates in a different geography.

Emerging players

• Hype Ferries (Lagos): Emerging Lagos water transport startup focused on premium leisure and tourism cruises. Comparable in targeting Lagos Lagoon but differentiated by tourism-first business model versus LAGFERRY's mass-transit focus.

Broad incumbents

• Staten Island Ferry: Municipal free passenger ferry service operated by New York City across New York Harbor. Comparable as a publicly operated, free or low-fare urban ferry with safety mandates, insurance, and large passenger volumes.

Others

• Lagos State Waterways Authority (LASWA): Regulatory body overseeing Lagos inland waterways, located at the Five Cowries Terminal alongside LAGFERRY. Relevant as the regulator/ecosystem partner rather than a direct competitor, shaping route approvals and safety enforcement.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/profile.php
• Xx.com/Lagferry

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Lagos Ferry Services Company