Sanwo-Olu Seeks Global Funding for Lagos Renewable Energy Projects

Lagos State Governor, Babajide Sanwo-Olu, has called for stronger global partnerships and increased financing to support renewable energy projects across Lagos and other parts of Africa.

Sanwo-Olu made the call while participating in discussions on the “Electrify Now” agenda at the Global Renewables Summit, where he stressed the need for urgent action to expand access to reliable and clean energy.

According to the governor, Lagos, with a population of more than 24 million people, cannot afford to delay efforts to improve access to affordable and sustainable electricity.

He disclosed that his administration had approved 15 renewable energy distribution projects across the state, but noted that access to funding remained a major challenge.

Sanwo-Olu said while funds are available globally for renewable energy investments, many investors remain reluctant to take the initial risks associated with financing projects in Africa.

He argued that Africa possesses the natural resources required to drive the global transition to renewable energy but needs appropriate investments, stronger partnerships and financing mechanisms that reflect the continent’s realities.

The governor also called for outcomes from the upcoming COP31 climate conference to translate into concrete action, particularly in expanding clean-energy access across developing economies.

“Lagos is ready to do its part. We need stronger partnerships and a global financing system that recognises both the challenges and opportunities across Africa,” Sanwo-Olu said.

He maintained that Africa must have a meaningful role in the global energy transition, stressing that a fair transition would require the continent to be recognised not only as a beneficiary of climate finance but also as an important part of the solution.