Lagos State Governor, Mr. Babajide Olusola Sanwo-Olu, on Thursday launched the Climate Defence and Catalytic Fund (CDCF), calling it a key intervention to strengthen Nigeria’s climate finance architecture. Represented by Deputy Governor Dr. Kadri Obafemi Hamzat at the closing of the maiden Climate Finance Preparedness Clinic (CFPC) 2026 at EbonyLife Place, Victoria Island, the Governor said the fund will provide catalytic capital, support project preparation, reduce investment risks, and attract private sector funding for climate-resilient projects.
Sanwo-Olu said “capital follows confidence, and confidence follows preparation,” stressing that Nigeria’s climate transition will depend on bankable projects, strong institutions, and public-private partnerships rather than ambition alone. The event also saw the unveiling of the Eco-Label Certification System to promote credible sustainability reporting and curb greenwashing. He noted that the Clinic, the CDCF, and the Eco-Label are designed as complementary pillars to build capacity, improve project readiness, and mobilise capital, adding that public funding alone cannot close the climate financing gap.
Earlier, Commissioner for Economic Planning and Budget, Mr. Mosopefolu George, and Special Adviser on Climate Change and Circular Economy, Mrs. Titilayo Oshodi, said the two-day Clinic brought together government, financiers, regulators and development partners to align policy with investment-ready projects. Keynote speaker, Mr. Victor Ayodeji Fodeke of Greenplinth Africa, urged Nigeria to invest in project preparation and local financing to tap the global carbon market, and called on Lagos to lead as the country’s hub for Article 6.4 transactions under the Paris Agreement. “Africa did not lose because it lacked projects. It lost because it lacked the preparation layer that made projects bankable,” he said.
