The Lagos State Commissioner for the Environment and Water Resources, Mr. Tokunbo Wahab, has said that the ongoing 2025 Lagos International Climate Change Summit provides an opportunity for participants to rethink their relationship with the ocean, viewing it not as a resource to be exploited but as “a living system to be nurtured.”

The summit, which is being held at the Lagos Intercontinental Hotel, Victoria Island, focuses on the theme, “Blue Economy, Green Money: Financing Africa’s Coastal Resilience and Ocean Innovation.”

Speaking at the event, Governor Babajide Sanwo-Olu said Lagos State was set to take a “deep plunge” into its aquatic wealth, with plans to harness the full potential of its marine and coastal ecosystems.

Sanwo-Olu noted that the new focus of the state government was to unlock the many opportunities within the Blue Economy by developing sustainable financing models and innovative solutions that would protect the oceans, strengthen the coasts, and create prosperity for future generations.

According to him, the time had come for Lagos “to turn its blue waters into green wealth” through strategic investments that would build the economy of the future.

He explained that the state’s efforts to create a new ocean-driven economy were anchored on three interconnected pillars — resilience, innovation, and financing. “We are driving ocean innovation to reimagine commerce and mobility. And we are unlocking green and blue finance to power both. Lagos does not wait for the future; Lagos builds it. And this future is sustainable, inclusive and ocean-powered,” he said.

The Governor further noted that the state’s approach to harnessing its aquatic ecosystem aimed to build coastal resilience to protect lives and livelihoods. He added that the initiative was also a “renewed call to global investors,” stressing that “investing in Lagos’ resilience is not philanthropy; it is smart economics that will be seen as an investment in the stability of Africa’s most dynamic economy and the security of the continent’s coastal future.”

The two-day summit brought together a broad mix of stakeholders from both the public and private sectors, including innovators, financiers, policymakers, and environmental advocates.

Sanwo-Olu observed that although Lagos’ Atlantic coastline had long been used for recreation and tourism, limited attention had been given to the economic value embedded in its aquatic resources. He said the summit was designed not only to strengthen adaptation measures for environmental protection but also to provide a platform for innovators and investors to develop sustainable business models that would safeguard the natural ecosystem.

The Governor added that through the summit, Lagos was leading Africa’s drive toward a greener, more sustainable economy. He noted that the state’s policies had shown that “development and decarbonisation can be achieved together.”

“The blue economy is not just an economic concept; it is a lifeline for the planet. The green transition is not an obligation; it is an opportunity to rebuild better. We must seize this moment to finance the tides of resilience, to turn our blue waters into green wealth, and to leave behind not just a livable Lagos, but a thrivable one,” Sanwo-Olu said.

In his remarks, Mr. Tokunbo Wahab emphasised that despite the growing climate threats, Lagos’ ocean remained a vital artery for commerce and a source of livelihood for millions of people.

“The Blue Economy represents more than just water-based industries; it embodies a new frontier for sustainable prosperity. This summit also provides an opportunity to bridge a crucial gap between visionary climate action and the sustainable financing needed to make it a reality,” Wahab said.

He reiterated that Lagos was committed to tangible actions in pursuit of its environmental vision. “Our mission is clear: it is to unlock the capital that will help us build resilience, drive innovation, and protect our coastal future. Lagos isn’t just talking about this vision; we are taking concrete steps to bring it to life,” he added.

Also speaking, Minister for Marine and Blue Economy, Mr. Gboyega Oyetola, reaffirmed the Federal Government’s commitment to the development of the nation’s marine sector.

Oyetola, represented by the Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dayo Mobereola, said several reforms had been implemented to improve maritime governance and promote environmental sustainability.

He said, “Lagos State is key to achieving this vision, with ongoing roadmaps focused on marine conservation, innovation and sustainable use of ocean resources.”

The Minister added that the Federal Government would continue to collaborate with stakeholders in both the public and private sectors to unlock Nigeria’s maritime potential, strengthen security at sea, and ensure long-term benefits for the economy and coastal communities.

President Bola Tinubu has reaffirmed Nigeria’s readiness to welcome both local and foreign investors, assuring that the country remains open for business partnerships and innovation.

Speaking at the 39th edition of the Lagos International Trade Fair organised by the Lagos Chamber of Commerce and Industry (LCCI) on Friday, Tinubu, represented by the Minister of State for Industry, John Enoh, said Nigeria’s doors were open to investors seeking opportunities in Africa’s largest economy.

The fair, which runs from November 7 to 16, is showcasing the best of Nigerian entrepreneurship, creativity, and global economic partnerships.

Tinubu stated that the government was restructuring policies to promote stability and transparency in the business environment. He emphasised that Nigeria was committed to “stable policies instead of sudden reversals,” honouring contracts, and providing “transparent incentives for manufacturers, exporters, and small businesses.”

The President also assured participants of ongoing reforms, including digitised ports, one-stop shops for business permits, smarter taxation, and faster dispute resolution to enhance ease of doing business.

Highlighting Nigeria’s economic potential, Tinubu said the country was not only a “market of over 200 million people,” but also a nation of “ideas, youthful brilliance, and limitless potential waiting to be scaled up.”

He described the African Continental Free Trade Area (AfCFTA) as “the most ambitious economic project in modern Africa,” noting that it would create a market of 1.4 billion people with a combined GDP of $3.4 trillion. According to him, “Nigeria must not only participate in it, but must lead it.”

Tinubu further said, “This fair provides the partnerships, conversations, and networks that will take Nigerian products, from textiles to technology, cocoa to creative arts, to every corner of the continent and beyond. As you network, trade, and showcase your work, remember that every product made in Nigeria is a statement of confidence and every partnership formed here is a step towards shared prosperity.”

In his address, Lagos State Governor Babajide Sanwo-Olu, represented by Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs Folasade Ambrose-Medebem, said the fair’s theme, “Connecting Business, Creating Value,” reflected the spirit of Lagos — a “dynamic hub where vision meets value, and enterprise meets opportunity.”

Sanwo-Olu said investing in Lagos was equivalent to investing in a city of over 23 million people — a market filled with “dreamers and doers,” driven by youth, technology, and innovation.

He noted that the state government was committed to creating an enabling environment for businesses to thrive, with deliberate efforts to strengthen trade and commerce through streamlined investment procedures, efficient land and trade documentation, and improved access to data for investors.

According to the governor, his administration’s focus includes supporting MSMEs, cooperatives, and inclusive growth. He added that one of its key priorities was “innovative financing,” which provides new ways for businesses to access funds and reach new markets.

“We are also working to deepen the reach of our trade facilitation efforts, which connect Lagos-based businesses to regional and international buyers. At the fair each year, new partnerships are born, partnerships that lead to new factories, export deals, and job opportunities. This is the power of connection. This is the value of Lagos. To our exhibitors and visitors: Lagos is open. Engage, connect, explore, and build. Whether you are here from Ghana or Germany, Japan or Jos, know that Lagos is your home for commerce,” Sanwo-Olu said.

Also speaking, LCCI President Gabriel Idahosa described the fair as “an incubator of ideas and a catalyst for commerce,” providing enterprises with the opportunity to “showcase resilience-driven solutions, explore synergies, and drive sustainable growth.”

Idahosa commended both federal and state governments for their participation, saying it demonstrated their commitment to empowering the private sector to produce for local consumption and export.

He urged Nigerian entrepreneurs to take advantage of the fair to establish distributorships, sign trade agreements, and build partnerships that would strengthen their value chains and diversify their products.

• Tokunbo Wahab outline summit task to close the gap between ambition and funding.

The 11th Lagos International Climate Change Summit convened on November 6, 2025, at the Lagos Continental Hotel, drawing delegates from across Africa and beyond. Goodwill messages from the Dutch government, Chinese embassy, UK high commission, and German consulate opened proceedings, signalling the global stakes in what the city plans to do with its 187 kilometres of coastline. These opening salutes were not mere formalities; they signalled a readiness among international partners to back Lagos’s bid to transform its marine frontier from a site of erosion and flood risk into an engine of sustainable growth.

Tokunbo Wahab, Commissioner for the Environment and Water Resources, the man of the moment in his opening remarks, urged participants to see the ocean as a living system requiring careful management, not a resource open to unchecked extraction. Despite repeated floods and erosion, Lagos’s marine waters remain the artery for trade and the livelihood base for thousands of fisherfolk. Wahab said the summit’s task was to close the gap between climate ambition and the capital required to realise it. Concrete steps, he noted, were already in motion.

Day one unfolded with sessions that grounded these high-level pledges in specifics. Representatives from Eko Atlantic City, the audacious reclamation project that has added 10 square kilometres to Lagos’s landmass, shared insights on engineering resilience at scale.

Governor Babajide Sanwo-Olu laid out the central argument on day one. Lagos must convert its blue waters into green wealth through three linked priorities: coastal resilience, ocean innovation, and targeted financing. He described resilience measures already under way, including the Great Wall of Lagos and the Omi Èkó Initiative for cleaner lagoon transport. Innovation, he said, would reconfigure commerce and mobility, from data-driven fisheries to low-emission ferries. Financing would follow, with the state positioning itself as a stable bet for investors seeking both returns and planetary security.

Sanwo-Olu stressed that the summit served two purposes. First, it would strengthen adaptation measures to protect the city and the wider region. Second, it would create a platform where innovators, policymakers, and investors could design business models that preserve the natural balance of the ocean. He presented Lagos as proof that economic growth and decarbonisation can advance in tandem, and he framed the blue economy as a continental lifeline rather than a niche sector.

Dr Dayo Mobereola, Director-General of NIMASA, spoke for the federal Minister for Marine and Blue Economy, Gboyega Oyetola. He confirmed federal reforms to improve maritime governance and environmental standards, with Lagos positioned as the linchpin. The minister pledged continued partnership with state and private actors to secure sea lanes, expand sustainable marine industries, and deliver lasting benefits to coastal communities.

The afternoon of day one ended with the launch of the Lagos State Climate Investment Opportunities Diagnostic (CIOD). Produced with the International Finance Corporation and other partners, the report maps investment-ready projects across four sectors: built environment and energy, transportation, solid waste, and water and wastewater. It aligns with the Lagos Climate Action Plan and the Lagos Climate Adaptation and Resilience Plan, targeting a 25 per cent cut in greenhouse-gas emissions by 2035 against a 2020 baseline.

The CIOD estimates a total requirement of ₦25 trillion, with 81 per cent expected from private sources. Priority projects include grid-scale renewables, rooftop solar on public buildings, light-rail and BRT expansion, waste-to-energy plants, and upgraded wastewater treatment. Enabling instruments range from green bonds and blended finance to public-private partnerships and land-value capture. Recent legislation, such as the Lagos State Electricity Law, gives the state authority over power generation and distribution, clearing a path for large renewable schemes. The report also calls for stronger regulatory frameworks, better climate data systems, and the integration of sustainability into fiscal planning.

A session on climate finance followed, led by a KPMG expert who dissected the mechanics of mobilising capital for blue initiatives. Drawing on the firm’s global advisory work, the speaker outlined blended finance models, mixing public guarantees with private equity, to de-risk investments in ocean renewables and coastal restoration. Lagos’s regulatory reforms, such as the State Electricity Law granting local control over power markets, were praised as enablers for solar and wind scaling.

Biodun Coker, a stock market specialist, took the floor to delve into financing’s front lines, focusing on the nascent Lagos Carbon Registry. In partnership with the Lagos State Environmental Protection Agency (LASEPA), the registry aims to verify and trade emission offsets from urban greening and marine conservation. Coker explained the operational nuts and bolts: blockchain-ledgers for transparent crediting, third-party audits to prevent greenwashing, and incentives for smallholders.

Mr Mosopefolu George, the commissioner for Budget and Planning also gave a keynote that was followed by a panel including Iyin Aboyeji of Future Africa, Bukola Odoe, head of Exploration and Innovation lab UNDP amongst others which was focused on unlocking private capital for Africa’s Blue Economy.

A panel on protecting coastal ecosystems closed the first day. Dr Tunde Ajayi of the Lagos State Environmental Protection Agency, Oluwadamilola Emmanuel (senior special assistant to the governor on blue economy), and other speakers examined policy enforcement and community-led conservation. The Oniru of Iru Land, Oba Abdulwasiu Omogbolahan Lawal, Abisogun the second had earlier delivered a keynote on the same theme, arguing that ecosystem protection must include direct investment in local communities to ensure both conservation and prosperity.

Lagos will be at COP30 not as supplicant, but strategist. Lagos arrives not cap in hand, but blueprint in fist. It’s a city that knows oceans give and take with equal indifference, yet dares to court them anyway. The blue economy, as Wahab and Sanwo-Olu articulated, offers a pathway where Africa’s coasts yield wealth without depletion: $406 billion continent-wide if harnessed right. Yet substance demands scrutiny. The ₦25 trillion ask looms large against naira volatility and investor hesitancy but lagos is charting a course forward regardless.

The Lagos energy is best felt in the goodwill message from the representative of the Osun state governor, who quipped, “We draw strength from our big brother as they surge ahead.”