Governor Babajide Sanwo-Olu says the Climate Defence and Catalytic Fund will unlock private investment and strengthen Nigeria’s climate finance architecture for sustainable national development.

Speaking through the Deputy Governor, Obafemi Hamzat, on Friday, Mr Sanwo-Olu addressed the Climate Finance Leadership and Recognition Ceremony in Victoria Island, Lagos.

The event also marked the official launch of the Climate Defence and Catalytic Fund and the closing ceremony of the maiden Climate Finance Preparedness Clinic.

Mr Sanwo-Olu described the fund as a landmark intervention designed to mobilise catalytic capital, support project preparation, reduce investment risks, and accelerate climate-resilient development across Nigeria.

He said the fund was more than a financing mechanism, describing it as a strategic platform for transforming climate ideas into bankable, investment-ready projects that attract domestic and international investors.

“Capital follows confidence, and confidence follows preparation,” the governor said while highlighting the importance of creating investor trust through effective climate project development.

“The success of climate action depends not only on ambitious policies, but on credible institutions, technically sound projects, reduced investment risks and stronger public-private partnerships,” he added.

Mr Sanwo-Olu commended the Climate Finance Preparedness Clinic for strengthening the capacity of policymakers, regulators, financial institutions, project developers and development partners across Nigeria.

“Its greatest contribution lies not simply in the conversations it has convened, but in the capacity it is helping to build,” he said.

He noted that the clinic focused on preparing technically sound, commercially viable and investment-ready projects capable of attracting long-term climate finance and sustainable investments.

The governor urged governments, financial institutions, development partners and private investors to collaborate in bridging Nigeria’s climate financing gap through innovative funding partnerships.

“Public resources alone will never be enough. The future demands blended finance, stronger partnerships and institutions capable of preparing projects that inspire investor confidence,” he said.

Mr Sanwo-Olu described the unveiling of the Eco-Label Certification System as another major milestone in promoting integrity in sustainability reporting while discouraging greenwashing among organisations.

He said the certification system would recognise organisations demonstrating responsible environmental practices, reinforcing the principle that markets reward credibility and accountability.

“Together, the Climate Finance Preparedness Clinic, the Climate Defence and Catalytic Fund and the Eco-Label Certification System form complementary pillars of institutional strengthening,” he said.

He added that the initiatives would improve project preparation, enhance investor confidence and mobilise the capital required to build resilient communities and sustainable economies nationwide.

Earlier, the Commissioner for Economic Planning and Budget, Mosopefolu George, described climate finance as central to sustainable development and Nigeria’s long-term economic growth.

Represented by the special adviser on Economic Planning and Budget, Lekan Balogun, Mr George stressed the need for stronger collaboration among governments, businesses and development partners.

He said greater cooperation would unlock climate investment opportunities, strengthen resilience and accelerate sustainable economic development across Lagos State and Nigeria.

The special sdviser on Climate Change and Circular Economy, Titilayo Oshodi, said the clinic reinforced systems connecting policy, projects, institutions, data and investment.

Ms Oshodi said participants committed themselves to strengthening institutions, improving governance frameworks and mobilising greater financial resources to support climate action across Nigeria.

Delivering the keynote address, Greenplinth Africa Ltd. co-founder and group managing director, Victor Fodeke, urged urgent investment in project preparation and local financing mechanisms.

Mr Fodeke also urged Lagos State to position itself as Nigeria’s anchor jurisdiction for Article 6.4 carbon market transactions under the Paris Agreement.

“Africa did not lose because it lacked projects. It lost because it lacked the preparation layer that made projects bankable.

“Article 6 of the Paris Agreement gives us another opportunity, but only if we finance that missing layer ourselves,” he added. 

(NAN)