Copyright tribuneonlineng
Lagos State Governor Babajide Sanwo-Olu, has called on global investors to invest in Lagos’ resilience for the stability of Africa. The governor, while making the call at the 11th Lagos International Climate Change Summit, with the theme, “Blue Economy, Green Money: Financing Africa’s Coastal Resilience and Ocean Innovation,” reaffirmed its commitment to sustainable growth and coastal resilience. Wooing investors at the forum, the governor said:”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.” Sanwo-Olu told delegates at the summit that blue economy is not just an economic concept, but a lifeline for the planet. “Green transition is not an oobligatin, it is an opportunity to rebuild better. He urged them to seize the moment to finance the tides of resilience, to turn 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, the governor announced the formation of Lagos Carbon as Africa’s first domestic environmental market, designed to channel investment into decarbonization and regenerative projects across Lagos State. Leveraging world-class, bank-grade blockchain digital infinfrastructure, he pointed out that Lagos Carbon will support Lagos and Nigeria in achieving its Nationally Determined Contribution (NDC) and facilitate the trading of Internationally Transferred Mitigation Outcomes (ITMOs). “Lagos Carbon 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,” the governor said. Sanwo-Olu said the Lagos is a city built on water, energy and entrepreneurship and that it has to ensure a sustainable future for its residents while taking advantage of its ocean power. He said his administration was deliberate in creating blue finance, while using measures such as the Great Wall of Lagos to turn around a hitherto ocean surge to prime land solving multiple problems at the same time. The governor said Lagos is committed to leading African and global drive for a clean climate and a vibrant blue economy as a lifeline for the planet. 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 emphasised 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. The 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. He 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.” 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, advance security on Nigeria’s territorial water, reduced piracy, fiscal and legal frameworks as well as encouraged waste to wealth initiatives, partner stakeholders to finance blue economy and drive research. In their goodwill messages, representatives of the government of Osun State, international partners including Britain, China and Germany restated commitment to driving green growth and embracing climate vulnerability as opportunities for progress as well as advancing blue economy to shape sustainability.
