Sanwo-Olu seeks affordable climate finance for subnational govts

Governor Babajide Sanwo-Olu has urged the international community to provide affordable, long-term financing to help subnational governments implement climate solutions at scale.
Mr Sanwo-Olu made the call on Wednesday at the UN High-level Meeting on Climate Action and the Just Transition during the 81st Session of the UN General Assembly in New York. The meeting focused on accelerating energy transition, climate adaptation and access to affordable financing, particularly for developing countries.
“States, regions, and subnational governments are ready to deliver. We have the ambition. We have the responsibility. And increasingly, we have the solutions,” Mr Sanwo-Olu told world leaders. “Now we need to build the partnerships and mobilise the investment that will allow us to deliver them at scale.”
Mr Sanwo-Olu appeared alongside Governor Gavin Newsom, highlighting the growing cooperation between Lagos and California on climate action, energy, technology, trade, innovation and investment.
“I am particularly proud to stand here alongside Governor Newsom of California. We need strong partnerships and collaborators. No one can do it alone,” he said.
Lagos and California recently strengthened a sister-state relationship to deepen cooperation on climate action, energy, technology, trade, innovation and investment.
Mr Sanwo-Olu said Lagos’ large population and vulnerability to flooding, rising sea levels and extreme urban heat made climate resilience central to the state’s development agenda.
“For Lagos, climate action is about turning ambition into opportunity: protecting our people, strengthening our economy and building a more resilient and prosperous state,” he said. “Climate action is not separate from development. It is central to how we build our future.”
He identified transportation, waste management, urban resilience and clean energy as key areas where climate action could support economic development in Lagos.
Mr Sanwo-Olu said more than 5.2 million vehicles operate on Lagos roads, making cleaner and more efficient transportation an important part of the state’s transition plans. He also highlighted efforts to derive economic value from more than 5,000 tonnes of solid waste processed daily through recycling and circular-economy initiatives.
“These are not abstract climate policies. They are decisions that can create jobs, improve services, strengthen resilience and make everyday life better for millions of people,” he said.
Mr Sanwo-Olu, however, said limited access to affordable financing remained a major constraint to implementing climate projects at scale in developing cities and states.
“States and regions need access to affordable, long-term finance that can help turn strong plans into infrastructure on the ground,” he said.
He urged development finance institutions, private investors and businesses to regard climate projects in emerging markets as investment opportunities.
“We need development finance institutions, investors and the private sector to see the opportunity in climate investment in emerging markets because the opportunity is enormous,” he said.
Mr Sanwo-Olu said the Lagos-California partnership demonstrated how subnational governments could move beyond diplomatic relations to practical cooperation on investment, technology and climate action.
(NAN)
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette

Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices

Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”

NationWide
Labour Party presidential candidate urges Nigerians to participate more in politics
Labour Party presidential candidate restated the need for greater interest in political participation, as electing good officials has clear positive impacts.

Abuja
NEMA assesses flood impact on persons with disabilities in Abuja
The National Emergency Management Agency has assessed the impact of flooding on a community of persons with disabilities in Dakwa, Abuja Municipal Area Council.

Health
Over two million under-five children face acute hunger, malnutrition in Somalia, UN warns
The United Nations has warned that over two million under-five children are facing high levels of hunger and malnutrition in Somalia.

World
Malaysia’s food security faces risks from import dependence: Report
Malaysia’s food security has strengthened, but heavy reliance on imported food and agricultural inputs leaves the country vulnerable to external shocks, MBSB Research says.
![Ebonyi state governor, Francis Nwifuru [Photo: Twitter]](https://i1.wp.com/gazettengr.com/wp-content/uploads/Ebonyi-state-governor-Francis-Nwifuru-Photo-Twitter.png)
Enugu
Ebonyi govt resolved 21 boundary disputes in eight months: Commissioner
The commissioner for border peace and conflict resolution said the government resolved 21 boundary disputes and 29 community, village and election-related disputes.

Economy
Nigeria seeks local value from U.S. critical minerals deal
Nigeria and the U.S. signed an agreement to deepen cooperation on critical minerals, as the former seeks greater investment, local processing and technology transfer.




