Lagos to Fully Leverage Blue Economy for Economic Growth

Governor Babajide Sanwo-Olu announced Thursday that his administration is committed to maximizing the economic potential of Lagos State’s coastal assets, aiming to attract global investors through its Blue Economy.

Speaking at the 11th Lagos International Climate Change Summit (LICCS), the Governor emphasized the need to drive “ocean innovation to reimagine commerce and mobility” while unlocking necessary green and blue finance.

Pointing to the 187km coastline, Sanwo-Olu cited the creation of Eko Atlantic City—transformed from an eroding wasteland into a thriving hub—as “a living testament to human ingenuity.” He stressed that for Lagos, climate change is a “lived reality” requiring urgent, innovative responses.

The Governor confirmed this commitment through tangible projects, including the launch of the “Omi Èkó Initiative,” a low-carbon water transport network powered by partnerships with the French Development Agency (AFD) and the European Investment Bank (EIB).

Commissioner for Environment and Water Resources, Hon. Tokunbo Wahab, reinforced the urgency, noting that while the coastline is a great resource, it faces immediate threats from rising sea levels, extreme flooding, and daily pollution from waste dumping and dredging. He called for immediate action to transform these blue waters into “engines of resilience and inclusive growth.”

“Lagos sees opportunity, with this summit we have the chance to redefine our relationship with the ocean, not as a resource to be exploited but as a living system to be nurtured, one that sustains both our people and our planet. The Blue Economy represents more than just water-based industries; it embodies a new frontier for sustainable prosperity.

“This year’s summit also provides an opportunity to bridge a crucial gap, the gap between visionary climate action and the sustainable financing needed to make it a reality.

“Our mission is clear, to unlock the capital that will help us build resilience, drive innovation, and protect our coastal future. Lagos State isn’t just talking about this vision, we are taking concrete steps to bring it to life.

“Under the visionary leadership of Governor Babajide Olusola Sanwo-Olu, Lagos continues to lead Nigeria’s sub-national climate response through bold initiatives and strategic investments that strengthen our environmental resilience.