Lagos State Governor Babajide Sanwo-Olu has called for increased investment and stronger partnerships to expand access to reliable and affordable renewable energy in Lagos and across Africa. Sanwo-Olu made the call in a post via social media on Monday, September 21, following his participation in the Global Renewables Summit in……
Lagos State Governor Babajide Sanwo-Olu has called for increased investment and stronger partnerships to expand access to reliable and affordable renewable energy in Lagos and across Africa.
Sanwo-Olu made the call in a post via social media on Monday, September 21, following his participation in the Global Renewables Summit in New York.
The summit, held during Climate Week NYC, is focused on accelerating renewable-powered electrification and mobilising the investments and partnerships needed to expand clean energy access.
Sanwo-Olu said the energy needs of Lagos, with its rapidly growing population, required urgent action, stressing that the state could not afford to delay efforts to expand access to clean and reliable electricity.
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“At the Global Renewables Summit, I joined the dialogue on delivering the Electrify Now agenda,” the governor said.
“For Lagos, with a population of over 24 million people, access to reliable and clean energy cannot wait. We need to see action now and build on what comes out of COP31,” he added.
The governor said Africa possesses the resources required to accelerate the transition to renewable energy but stressed that adequate investment would be necessary to make clean energy accessible and affordable.
“Africa has the resources needed for the renewable energy transition but we must also make the right investments and ensure that clean energy is affordable and accessible,” Sanwo-Olu said.
He disclosed that his administration had approved 15 renewable energy distribution projects in Lagos but identified access to funding as a major obstacle to their implementation.
“I have approved 15 renewable energy distribution projects in Lagos but access to funding remains a major challenge. Funds are available but investors are often unwilling to take the first risk,” he said.
Sanwo-Olu said Lagos was prepared to contribute to the global clean energy transition, while calling for stronger partnerships and financing mechanisms that take into account the specific circumstances of African economies.
“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.
The governor also stressed the need for Africa to have a greater role in shaping the global energy transition.
“If we are serious about a fair global energy transition, Africa must be part of the solution,” Sanwo-Olu said.
The Global Renewables Summit is bringing together governments, businesses, investors and international organisations in New York to advance renewable-powered electrification ahead of COP31.
