• Peace in Ondo coastal communities attracting investors, says OSOPADEC chairman
• Commission moves to deploy private guards, CCTV

Lagos State Government has taken another major step towards translating its climate commitments into concrete investments with the introduction of a Climate Defence and Catalytic Fund (CDCF), a financing mechanism designed to unlock private capital for climate-resilient infrastructure and accelerate the state’s transition to a low-carbon economy.

The initiative, unveiled at the Climate Finance Leadership and Recognition Ceremony in Lagos, comes weeks after the state introduced its pioneering State-Determined Contributions Framework and signed a Memorandum of Understanding (MoU) with the Under 2 Coalition during the London Climate Action Week, reinforcing its ambition to become Africa’s leading sub-national climate finance hub.

Governor Babajide Sanwo-Olu, who was represented by his Deputy, Dr Obafemi Hamzat, said the new fund would bridge the financing gap for climate projects by mobilising catalytic capital, strengthening project preparation and attracting domestic and international investors into renewable energy, resilient infrastructure and other green investments.

MEANWHILE, the Ondo State Oil Producing Areas Development Commission (OSOPADEC) has said that the collaborative efforts of security agencies in coastal communities of the state towards ensuring peace have given investors the confidence to indicate interest in the axis.

OSOPADEC Chairman, Biyi Poroye, disclosed this at the weekend during a dinner organised in honour of security chiefs in Akure, the state capital, where he lauded the partnership between the state and federal security agencies.

Sanwo-Olu described the fund as a strategic platform that would transform climate policies into investment-ready projects capable of attracting long-term financing.

According to him, the state will deploy blended finance structures, guarantees, technical assistance and other risk-sharing instruments to reduce investment risks while improving investors’ confidence.

Special Adviser to the Governor on Climate Change and Circular Economy, Mrs Titilayo Oshodi, said the next phase of climate leadership would be determined by the ability of cities to convert climate ambitions into bankable projects capable of attracting investment.

She noted that while global climate finance continues to expand, many cities still struggle to access available funding owing to inadequate institutional capacity and weak project preparation.

Poroye said that beyond the conventional security framework provided by federal agencies, the state government had engaged two private security firms to complement existing operations, with more being profiled due to the vastness of the terrain.

He said that Governor Lucky Aiyedatiwa had also directed the installation of CCTV cameras along major public infrastructure corridors, including the Obe Nla Walkway, to enhance monitoring and intelligence sharing.

Poroye maintained that the peace currently being experienced is among the best in the region, providing a stable foundation for economic activities that had previously been stifled by insecurity.