…Oyetola pledges FG’s support
Lagos is taking a plunge into its aquatic endowment with plans to harness the vast potential to drive the state’s blue economy.
This new focus, according to the state, will unlock sustainable financing and pioneer innovative solutions that would safeguard the state’s oceans, strengthen its coasts and unleash prosperity for future generations.
The state governor, Babajide Sanwo-Olu, stated this at the 2025 Lagos International Climate Change Summit, with the theme: “Blue economy, green money: Financing Africa’s coastal resilience and ocean innovation,” which kicked off in Lagos on Thursday.
According to Sanwo-Olu, Olu, the time is ripe for Lagos to turn its blue waters into green wealth by fully exploring the water resources to build the economy of the future.
The Lagos Atlantic coastline has, over decades, been largely explored for recreational tourism, with limited economic attention to the vital elements in the aquatic ecosystem, a situation Sanwo-Olu said is about the change.
This, he said, would be anchored on three interconnected pillars: These include building resilience, driving innovation, and channelling financing into the aquatic ecosystem.
“We are driving ocean innovation to reimagine commerce and mobility. And we are unlocking green and blue finance to power both. Lagos does not wait for the future; Lagos builds it. And this future is sustainable, inclusive and ocean-powered.
“Our approach to fully harness our aquatic ecosystem is anchored on three interconnected pillars of resilience, innovation and financing. We are building coastal resilience to protect lives and livelihoods. This offers a renewed call to global investors. We are saying that investing in Lagos’ resilience is not philanthropy; it is smart economics that will be seen as an investment in the stability of Africa’s most dynamic economy and the security of the continent’s coastal future,” the governor said.
He added that the summit was not only aimed at strengthening adaptation activities that would further secure the planet, but also creating a platform for innovators, policymakers and investors to develop a sustainable business model that would not alter the natural conditions of the environment.
On his part, Gboyega Oyetola, Nigeria’s Minister for Marine and Blue Economy, reiterated the Federal Government’s commitment to developing the country’s marine sector, noting that reforms had been carried out to improve maritime governance and enhance environmental sustainability.
Oyetola, represented by Dayo Mobereola, the director-general of the Nigerian Maritime Administration and Safety Agency (NIMASA), said the government was positioning the country as a frontline player in Africa on the blue economy.
“Lagos State is key to achieving this vision, with ongoing roadmaps focused on marine conservation, innovation and sustainable use of ocean resources,” the minister said.
Oyetola pledged that the federal government would continue to work with public and private stakeholders to unlock the country’s maritime potential, enhance security at sea and ensure long-term benefits for Nigeria’s economy and coastal communities.
