Lagos Future Economy Is Ocean Powered - Sanwo-Olu Declares As State Holds Blue Economy Summit

Lagos State is set to take a bold step in unlocking the vast potential of its aquatic resources through a renewed focus on the Blue Economy. Governor Babajide Sanwo-Olu announced this at the 2025 Lagos International Climate Change Summit held at the Lagos Intercontinental Hotel, Victoria Island. With the theme “Blue Economy, Green Money: Financing Africa’s Coastal Resilience and Ocean Innovation,” the summit gathered key stakeholders from the public and private sectors, including innovators, financiers, and policymakers, to explore sustainable financing and ocean-based solutions for future prosperity.

Governor Sanwo-Olu emphasized that Lagos would transform its blue waters into green wealth by harnessing the ocean’s potential to drive a resilient and inclusive economy. He stated that the State’s strategy is anchored on three key pillars resilience, innovation, and financing  aimed at strengthening coastal protection, reimagining commerce and mobility through ocean innovation, and attracting green and blue investments. “Lagos does not wait for the future; Lagos builds it,” the Governor declared, underscoring the State’s proactive approach to sustainable development.

According to the Governor, the summit is not merely about environmental adaptation but also about creating an ecosystem where innovation, investment, and sustainability align. He noted that Lagos is leading Africa’s green transition by demonstrating that development and decarbonisation can go hand in hand. Sanwo-Olu described the Blue Economy as both an economic and ecological lifeline, urging global investors to view Lagos’ coastal resilience as smart economics that will secure Africa’s most dynamic economy.

Commissioner for the Environment and Water Resources, Mr. Tokunbo Wahab, echoed the Governor’s vision, describing the Blue Economy as a new frontier for sustainable prosperity. He said the summit encourages a reimagined relationship with the ocean not as a resource to exploit but as a living system to protect and nurture. Wahab added that Lagos is taking concrete steps to unlock the capital needed to build resilience, drive innovation, and safeguard the State’s coastal future, ensuring that its actions align with global climate goals.

Minister of Marine and Blue Economy, Mr. Gboyega Oyetola, reaffirmed the Federal Government’s support for Lagos State’s initiatives, stressing the importance of marine innovation and conservation. Represented by NIMASA’s Director-General, Dr. Dayo Mobereola, Oyetola said the government’s ongoing reforms aim to strengthen maritime governance, enhance environmental sustainability, and position Nigeria as a leading player in Africa’s Blue Economy. He pledged continued collaboration with both public and private stakeholders to improve maritime security, unlock the nation’s coastal wealth, and deliver long-term benefits to Nigeria’s economy and coastal communities.