Lagos State Governor, Babajide Sanwo-Olu, yesterday, launched the Climate Investment Opportunities Diagnostic (CIOD), a new policy document that aims to connect the state’s environmental priorities with actionable investment strategies.
The new initiative, launched at the 11th Lagos International Climate Change Summit, themed “Blue Economy, Green Money: Financing Africa’s Coastal Resilience and Ocean Innovation” in Lagos, is a practical investment guide aligning climate priorities with financing solutions.
The governor, who reaffirmed his administration’s commitment to sustainable growth and coastal resilience, noted that Lagos is a city built on water, energy and entrepreneurship, adding that the state 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 in solving multiple problems at the same time.
Sanwo-Olu said the state is committed to leading the African and global drive for a clean climate and a vibrant blue economy as a lifeline for the planet.
Earlier, the Commissioner for the Environment and Water Resources, 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, according to him, will convert fruit waste into clean energy for lighting, cooking, and phone charging, while producing natural fertiliser for farmers.
The commissioner noted that Lagos would continue to lead Nigeria’s sub-national climate response and had been ranked the top-performing state in climate governance for the second consecutive year.
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 ministry had implemented wide ranging reforms, advance security on Nigeria’s territorial water, reduced piracy, fiscal and legal frameworks, as well as encourage waste to wealth initiatives, partner stakeholders to finance blue economy and drive research.
In their goodwill messages, representatives of Osun State Government, 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.
