Friday, November 7, 2025 - The Lagos State Governor, Babajide Sanwo-Olu, on Thursday, made a renewed appeal to global investors at the Lagos State International Climate Change Summit.
Sanwo-Olu, who served as Chief Host at the opening ceremony
of the two-day annual event, highlighted Lagos’ growing economic potential
under the theme, “Blue Economy, Green Money: Financing Africa’s Coastal
Resilience and Ocean Innovation.”
The summit was held at the Lagos Continental Hotel, Victoria
Island.
The governor described Lagos as a smart destination for
investors interested in Africa’s coastal future, noting that the city continues
to emerge as one of the continent’s most dynamic economies.
He said, “At last year’s summit, we launched the Lagos
Climate Adaptation and Resilience Plan, a comprehensive blueprint to turn
ambition into action. Building on that, and in collaboration with the
International Finance Corporation, Lagos developed the Climate Investment
Opportunities Diagnostic, a practical investment guide aligning climate
priorities with financing solutions.
“It identifies opportunities across clean energy,
sustainable transport, and resilient infrastructure — sectors that will define
the next decade of Lagos’ growth. But we know that public finance alone cannot
carry this weight.
“So today, we renew our call to global investors. Investing
in Lagos’ resilience is not philanthropy — it is smart economics. It is an
investment in the stability of Africa’s most dynamic economy and the security
of the continent’s coastal future.”
The Lagos Climate Summit coincides with the 30th United
Nations Climate Change Conference, holding in Brazil from November 10–21, 2025.
In alignment with the global momentum at COP30, Sanwo-Olu
announced the establishment of Lagos Carbon, which he noted was Africa’s first
domestic environmental market.
He said, “The Lagos Carbon is designed to channel investment
into decarbonisation and regenerative projects across Lagos State. Leveraging
world-class, bank-grade blockchain digital infrastructure, Lagos Carbon will
support Lagos and Nigeria in achieving its Nationally Determined Contribution
and facilitate the trading of Internationally Transferred Mitigation Outcomes.”
Also speaking at the event, the Lagos State Commissioner for
the Environment and Water Resources, Tokunbo Wahab, disclosed that the state
would soon unveil a biogas plant capable of converting fruit waste into clean
energy.
Wahab said, “By December this year, the Ministry, in
partnership with the C40 Climate Global Leadership Group, will commission a
biogas facility at the Ikosi Isheri Fruit Market — a project that turns 500
kilogrammes of fruit waste each day into clean energy.
“This green energy will power the market’s streetlights,
serve as cooking fuel for food vendors, and provide a charging station for
traders. Even the by-products of this process, known as digestate, will be put
to good use as natural fertilizer for farmers, creating a truly circular and
sustainable system.”
The summit drew both local and international participants,
including representatives from China, the Netherlands, among others.
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