Lagos State Governor Calls on Global Investors to Invest in Coastal Resilience
Lagos State Governor Babajide Sanwo-Olu has urged global investors to invest in the resilience of Lagos, emphasizing its importance for the stability of Africa. This call was made during the 11th Lagos International Climate Change Summit, which had the theme “Blue Economy, Green Money: Financing Africa’s Coastal Resilience and Ocean Innovation.” The summit highlighted the governor’s commitment to sustainable growth and coastal resilience.
Sanwo-Olu stated that investing in Lagos’ resilience is not just philanthropy but smart economics. He explained that it is an investment in the stability of Africa’s most dynamic economy and the security of the continent’s coastal future. According to the governor, the blue economy is not merely an economic concept but a lifeline for the planet. He emphasized that the green transition is not an obligation but an opportunity to rebuild better.
The governor encouraged delegates at the summit to seize the moment to finance the tides of resilience, turning Lagos’ blue waters into green wealth, and to leave behind not just a livable city, but a thriving one. In alignment with global momentum at COP30, Sanwo-Olu announced the formation of Lagos Carbon as Africa’s first domestic environmental market. This initiative is designed to channel investment into decarbonization and regenerative projects across Lagos State.
Lagos Carbon will leverage world-class, bank-grade blockchain digital infrastructure to support Lagos and Nigeria in achieving its Nationally Determined Contribution (NDC) and facilitate the trading of Internationally Transferred Mitigation Outcomes (ITMOs). The governor explained that this platform will enable countries and companies worldwide to finance verified emissions reductions and removals across Lagos State and Nigeria, driving job creation, fostering technology transfer, and improving the health, wealth, and well-being of Nigerians for generations to come.
Sanwo-Olu noted that Lagos is a city built on water, energy, and entrepreneurship, and it must ensure a sustainable future for its residents while taking advantage of its ocean power. His administration has been deliberate in creating blue finance, using measures such as the Great Wall of Lagos to turn around a hitherto ocean surge into prime land, solving multiple problems at the same time.
The governor reiterated Lagos’ commitment to leading African and global drives for a clean climate and a vibrant blue economy as a lifeline for the planet.
Key Initiatives and Collaborations
In his welcome address, Commissioner for the Environment and Water Resources, Mr. Tokunbo Wahab, said the summit reflects the state’s determination to unlock sustainable financing and pioneer innovative solutions that safeguard the ocean and strengthen coastal communities. He emphasized that Lagos sees opportunity where others see risk—by transforming its blue economy into an engine of inclusive growth and environmental sustainability.
Wahab highlighted ongoing state initiatives, including the forthcoming commissioning of a biogas facility at the Ikosi Isheri Fruit Market in partnership with the C40 Global Leadership Group. This project will convert fruit waste into clean energy for lighting, cooking, and phone charging, while producing natural fertilizer for farmers.
He also announced that Sanwo-Olu will launch the Climate Investment Opportunities Diagnostic, a new policy document linking environmental goals with actionable investment pathways. The commissioner noted that Lagos continues to lead Nigeria’s sub-national climate response and has been ranked the top-performing state in climate governance for the second consecutive year.
Wahab called for greater collaboration among African coastal cities, stressing that Lagos is “ready for investment, ready for innovation, and ready to build resilience that benefits all its people.”
Federal Government and International Partnerships
The Minister of Marine and Blue Economy, Gboyega Oyetola, who was represented by the Director General of the Nigerian Maritime Administration and Safety Agency, NIMASA, Dr Dayo Mobereola, said the Federal Ministry had implemented wide-ranging reforms, advanced security on Nigeria’s territorial waters, reduced piracy, and improved fiscal and legal frameworks. The ministry also encouraged waste-to-wealth initiatives, partnered stakeholders to finance the blue economy, and drove research.
In their goodwill messages, representatives of the government of Osun State, international partners including Britain, China, and Germany, restated their commitment to driving green growth and embracing climate vulnerability as opportunities for progress, as well as advancing the blue economy to shape sustainability.