Lagos pledges $9 billion investment for climate resilience, infrastructure renewal

The Lagos State Government has unveiled what it describes as an ambitious plan to invest over $9 billion in resilience and infrastructure development projects for the 2026 fiscal year, in a renewed drive to advance environmental sustainability and climate adaptation across the state.

This follows the signing of four Memoranda of Understanding, MoUs, between the state government and private sector partners, focusing on climate change mitigation, circular economy models, and waste-to-wealth initiatives aimed at driving sustainable growth.

Dr Dania Folayinka, who is the Chief Resilience Officer of the Lagos State Resilience Office, LASRO, made this known during her presentation on the second day of the 11th Lagos International Climate Change Summit, LICCS, themed “The Blue Economy, Green Money: Financing Africa’s Coastal Resilience and Ocean Innovation.”

Organized by the Ministry of the Environment and Water Resources, the Lagos International Climate Change Summit has evolved into a leading platform for climate dialogue in Africa. This year’s edition showcased Lagos’ role as a hub of innovation, resilience, and green investment, ahead of COP30, the upcoming United Nations Climate Change Conference scheduled for November 10–21, 2025, in Belém, Brazil.

According to Dr Folayinka, the targeted $9 billion funding will be sourced from both public and private sector investments and channeled into key sectors such as infrastructure renewal, clean energy, transport, and waste management, to strengthen Lagos’ adaptive capacity and safeguard its coastal communities.

“The financing model will leverage public-private partnerships to mobilize resources and deliver high-impact projects that build resilience and support long-term sustainability,” she said.

Declaring the summit open, Governor Babajide Sanwo-Olu reaffirmed his administration’s vision for a sustainable, ocean-driven economy that balances progress with environmental responsibility.

“Lagos does not wait for the future, Lagos builds it. And that future must be sustainable, inclusive, and ocean-powered,” the governor said.

Story was adapted from Daily Post.