Lagos Charts Path to Green Prosperity at EcoNexus 2.0
Lagos State government has reinforced its leadership in climate innovation and green economy with the official launch of EcoNexus 2.0 on advancing profitable sustainability initiatives.
The Governor, Mr Babajide Sanwo-Olu in his address described the event as a pivotal moment in the state's green economy journey.
The event is the second edition of EcoNexus, held on Friday, at the JK Randle Centre for Yoruba Culture and History, Onikan, Lagos Island and convened by the Office of the Special Adviser to the Governor on Climate Change and Circular Economy with the theme: “Towards Greener, Profitable Businesses.”
Governor Sanwo-Olu, who was represented by his Special Adviser on Agriculture, Mr. Rotimi Fashola highlighted the impact of the maiden edition of ECONexus and hinted on the ongoing expansion of the Clean Cookstove Initiative, which aims to provide clean cooking solutions for over 80 million Nigerians.
The project, backed by Lagos State in partnership with GreenPlinth Africa, has not only reduced harmful emissions but also generated carbon credits—turning climate responsibility into a viable economic asset.
“ECONexus 1.0 laid a solid and essential groundwork. From the Clean Cookstove Project to climate-smart investments, we’ve proven that green innovation delivers both economic and social returns.
“We are committed to attracting green investments, creating quality jobs, and setting a standard that others can look up to.”
“It is time to fully leverage carbon markets, forge strategic partnerships, and drive sustainable development across all sectors,” Sanwo-Olu stated.
The Governor said Lagos would be a ‘shining example of sustainable development throughout Africa and beyond’ as he urged stakeholders to embrace green growth strategies to foster an economy ‘that is not just profitable but also environmentally friendly and socially inclusive,’ he added.
In her welcome remarks, Mrs Titilayo Oshodi, Special Adviser to the Governor on Climate Change and Circular Economy, who set the tone for the gathering stated: “this year’s theme is not just timely; it is urgent. The environmental challenges before us demand not just advocacy but audacious innovation.
“We must build an economy where climate responsibility unlocks economic opportunity.”
Oshodi emphasized Lagos’s role as a blueprint for how the city can lead in the circular economy, praising the clean cookstove program for empowering women, creating jobs, and improving public health outcomes. “Every clean cookstove distributed reduces our carbon footprint and catalyzes small businesses.”
She added “The path to a greener economy is not ahead of us—it is right here, in this room.”
The Special Adviser closed her remarks with a proverb that underscored the spirit of collaboration: “If you want to go fast, go alone. If you want to go far, go together. Today, Lagos chooses to go far—together.”
Chairman of Lambeth Capital and former Deputy Governor of the Central Bank of Nigeria, Dr. Tunde Lemo delivered a keynote address, titled ‘From Climate Risk to Green Prosperity: Financing Nigeria’s Future through Compliance Carbon Markets’ to introduce a new vision for Nigeria’s economy—one built on carbon finance.
His words: “The climate crisis is no longer distant or abstract. It is with us — in our floods, food insecurity, power instability, and rapidly depleting ecosystems. And yet, within this crisis lies unprecedented economic opportunity.
“It is time to recognise that climate risk is a financial risk — but climate action is also a green wealth opportunity.”
Lemo, highlighting opportunities in the green economy said “Carbon is now a regulated, financeable asset class and Nigeria has the resources and capacity to lead in the Paris Agreement Crediting Mechanism (PACM) framework, generating billions in exportable carbon credits.”
Noting countries like China, Brazil, India, and Kenya already realising billions in climate-linked revenues; the ex-CBN Deputy Governor outlined how initiatives like the 80M Clean Cookstoves and the 4B Trees Project could deliver over $60 billion in annual carbon revenue, turning carbon into Nigeria’s next high-value export commodity.
He emphasized the advantages of compliance carbon markets over voluntary systems, citing stronger governance, host country oversight, and alignment with national carbon accounting.
With EcoNexus 2.0, Lagos has positioned itself not just as a participant in the global green economy but as a regional trailblazer, turning environmental ambition into investment-grade action.
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