Lagos State to Launch Climate Finance Clinic for Investment Drive

The Lagos State Office of Climate Change and Circular Economy has unveiled plans to host the inaugural Climate Finance Preparedness Clinic. This initiative aims to bolster Nigeria's climate finance landscape and attract crucial investments for sustainable development across the nation. The two-day event, slated for July 15 and 16, 2026, is designed to bridge the gap between economic growth rooted in circular principles and climate finance by empowering institutions to develop and fund viable climate projects. This information was released in a Sunday statement by Titi Oshodi, the Special Adviser to the Lagos State Governor on Climate Change and Circular Economy.

Oshodi elaborated that this initiative is conceptualized to transform Lagos State's climate aspirations into tangible projects that will yield significant social, economic, and environmental benefits. She highlighted that the clinic follows Governor Babajide Sanwo-Olu's recent participation in the London Climate Action Week. During that event, Lagos formalized an agreement by signing a Memorandum of Understanding with the Climate Group, thereby officially joining the Under2 Coalition – a global alliance of subnational governments committed to achieving net-zero emissions and fostering climate-resilient economies.

"We have just returned from the London Climate Week, where the governor signed a Memorandum of Understanding with Climate Group, formally signalling Lagos State’s entry into the Under2 Coalition, which is the world’s largest network of states and regions committed to achieving net-zero emissions and building climate-resilient economies," Oshodi stated.

She further noted that Lagos also introduced its pioneering State-Determined Contributions (SDC) Framework during the London event. This framework is described as an innovative subnational climate investment architecture engineered to convert policy goals into attractive investment prospects. "We also took the opportunity to introduce our State-Determined Contributions Framework, which is a pioneering subnational climate investment architecture designed to convert policy ambition into investable opportunities. One of our motivations for these actions is our conviction that climate investment and economic development are no longer separate agendas," she affirmed.

Explaining the clinic's core objective, Oshodi mentioned it would function as the primary implementation mechanism for the state’s investment framework. Its role is to ensure that all proposed climate projects are both technically robust and financially appealing to potential investors. "So the CFPC is conceived as an implementation vehicle of our SDC Framework. While the SDC Framework develops investment-ready projects, the clinic is designed to prepare the ecosystem to finance them. Our goal is to ensure that climate projects in Lagos are not only technically viable but also financially investable," she clarified.

Oshodi emphasized the critical need for financial institutions to be adequately equipped to assess climate-related risks and channel funds towards climate solutions if Nigeria is to attract substantial investments in this sector. She added, "To set this in motion, Nigeria’s financial ecosystem must be ready for it. Monies have to flow through the financial system, which means those institutions have to be ready to receive and disburse them. Projects alone do not attract investment. Our cities also need financial institutions capable of evaluating climate risk and financing climate solutions."

The state government indicated that the upcoming clinic builds on the momentum generated during the London Climate Action Week. During that period, the Lagos delegation hosted a climate investment roundtable, engaged with various investors and development partners, and solidified international partnerships through its membership in the Under2 Coalition.

Additionally, the programme will introduce initiatives aimed at enhancing sustainability and climate reporting. These include the Eco-Label Certification System, which acknowledges organizations for their verified sustainability performance facilitated by the DecarbonIQ platform. This platform, according to the statement, is designed to assist organizations in generating reliable climate data, monitoring environmental performance, and improving sustainability reporting to facilitate informed decision-making.

The event will culminate with the Climate Finance Excellence and Recognition Awards Night, an occasion set to honour organizations and individuals who have made significant contributions to climate finance and sustainable development within Nigeria. The Office of Climate Change and Circular Economy is tasked with spearheading climate action and promoting circular economy principles in Lagos through strategic policies, partnerships, and innovative financing mechanisms, all geared towards building a resilient, low-carbon, and inclusive economy.