Lagos to invest $9 billion in 2026 for climate resilience, infrastructure renewal

Lagos State Government has unveiled an ambitious plan to invest approximately $9 billion in resilience and infrastructure development projects for the 2026 fiscal year, in a renewed push to advance environmental sustainability and climate adaptation across the state. This follows the signing of four Memoranda of Understanding, MoUs, between the state government and private sector partners, focusing on climate change mitigation, circular economy models, and waste-to-wealth initiatives aimed at driving sustainable growth. The disclosure was made by Dr Dania Folayinka, Chief Resilience Officer of the Lagos State Resilience Office, LASRO, during her presentation on the second day of the 11th Lagos International Climate Change Summit, LICCS, themed The Blue Economy, Green Money: Financing Africas Coastal Resilience and Ocean Innovation. According to Dr Folayinka, the targeted $9 billion funding will be sourced from both public and private sector investments and channeled into key sectors such as infrastructure renewal, clean energy, transport, and waste management, to strengthen Lagos adaptive capacity and safeguard its coastal communities. The financing model will leverage public-private partnerships to mobilize resources and deliver high-impact projects that build resilience and support long-term sustainability, she said. The Lagos International Climate Change Summit, organized by the Ministry of the Environment and Water Resources, has evolved into a leading platform for climate dialogue in Africa. This years edition showcased Lagos role as a hub of innovation, resilience, and green investment, ahead of COP30, the upcoming United Nations Climate Change Conference scheduled for November 1021, 2025, in Belem, Brazil. With a population exceeding 22 million and a 187-kilometre coastline, Lagos remains one of the most climate-vulnerable mega-cities in the world, yet it continues to model proactive urban and environmental management. Declaring the summit open, Governor Babajide Sanwo-Olu reaffirmed his administrations vision for a sustainable, ocean-driven economy that balances progress with environmental responsibility. Lagos does not wait for the future, Lagos builds it. And that future must be sustainable, inclusive, and ocean-powered, the governor said. Sanwo-Olu noted that the states climate policy is anchored on three interlinked pillars: resilience, innovation, and financing. We are building coastal resilience to protect our communities. True resilience is not only about infrastructure and technology; it is about restoring harmony with nature itself, he added.