Sanwo-Olu Calls for Increased Investment in Renewable Energy, Says Lagos Ready for Clean Energy Transition

Lagos State Governor, Babajide Sanwo-Olu, has called for increased investment and stronger global partnerships to accelerate access to reliable and affordable renewable energy across Africa.

Sanwo-Olu made the call while participating in the Global Renewables Summit, where he joined discussions on advancing the “Electrify Now” agenda and the need for urgent action on clean energy development.

The governor said Lagos, with a population of more than 24 million people, could not afford to delay efforts to provide reliable and clean energy, stressing the need to build on outcomes from the forthcoming COP31.

According to him, Africa possesses the natural resources required to drive the renewable energy transition but needs appropriate investments to make clean energy affordable and accessible to its growing population.

Sanwo-Olu disclosed that he had approved 15 renewable energy distribution projects in Lagos, but identified access to funding as a major obstacle to their implementation.

He said although funds were available, investors were often reluctant to take the initial risks associated with financing renewable energy projects.

“Lagos is ready to do its part. We need stronger partnerships and a global financing system that recognises both the challenges and opportunities across Africa,” he said.

Sanwo-Olu further stressed that Africa must be adequately integrated into global efforts to achieve a fair and sustainable energy transition.

“If we are serious about a fair global energy transition, Africa must be part of the solution,” the governor added.