Lagos government and stakeholders in the water sector have committed to developing a water-risk management plan, and mobilise investments for water resilience projects in the state.
 
They stated this at the 2025 Global Risk and Resilience Fellowship workshop, which focused on addressing water risks through innovative insurance solutions, strategic investments, and sustainable finance. 
 
In a statement, the workshop was organised by the Lagos State Resilience Office (LASRO), in collaboration with the Resilient Cities Network and Howden Insurance Brokers. 
 
The event brought together local and international experts, policymakers, and stakeholders to share knowledge, expertise, and best practices.  Participants explored innovative insurance solutions to address water risks, including the benefits of parametric insurance, index-based insurance and other risk transfer mechanisms.
  
They committed to collaborating and implementing the workshop’s recommendations, including the development of a water-risk management plan, the establishment of a water-risk insurance facility, and the mobilisation of investments for water-resilient projects.

The workshop identified potential investment opportunities in Lagos State’s water sector, including green infrastructure, water efficiency projects, and climate-resilient water management systems. 
  
The fundamentals of insurance and the role of risk transfer mechanisms were explored for strengthening water resilience in Lagos. Lagos State Chief Resilience Officer, Dr Folayinka Dania, said the economic capital was determined to explore the fundamentals of insurance and the role of risk transfer mechanisms in strengthening water resilience for the state while building financial resilience against water-related disasters and adopting proactive risk management and mitigation efforts.
 
Team lead, Advisory Services, Arup Lagos Office, West Africa, Nnamdi Udeh, remarked that the novel insurance workshop aims to determine how insurance could play a critical role in helping to solve water-resilience issues, identify risks, and help people understand insurance.