Sanwo-Olu Seeks Global Funding for Lagos Renewable Energy Projects
Lagos State Governor, Babajide Sanwo-Olu, has called for stronger global partnerships and improved access to financing to accelerate renewable energy development in Lagos and across Africa.
Sanwo-Olu made the call at the Global Renewables Summit during discussions on the Electrify Now agenda, where he stressed the urgency of expanding reliable and clean energy access in Lagos, a city of more than 24 million people.
The governor disclosed that he had approved 15 renewable energy distribution projects in Lagos but identified access to funding as a major challenge. According to him, although funds are available, investors are often reluctant to take on the initial risks involved in such projects.
Sanwo-Olu said Africa has the resources required to drive the renewable energy transition but must attract the right investments while ensuring that clean energy remains affordable and accessible to its people.
He also called for the outcomes of COP31 to translate into concrete action, particularly through a global financing system that recognises the challenges and opportunities within African markets.
“Lagos is ready to do its part,” Sanwo-Olu said, urging stronger partnerships to ensure Africa has a meaningful role in delivering a fair global energy transition.
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