LAGOS, Nigeria — Governor Babajide Sanwo-Olu has launched the Climate Defence and Catalytic Fund to unlock private investment and strengthen the country’s climate finance architecture, describing the initiative as a strategic platform to transform climate ideas into bankable, investment-ready projects.
The governor, who was represented by Deputy Governor Obafemi Hamzat, spoke on Friday at the Climate Finance Leadership and Recognition Ceremony held in Victoria Island, Lagos. The event also marked the close of the maiden Climate Finance Preparedness Clinic.
Sanwo-Olu said the fund would mobilise catalytic capital, support project preparation, reduce investment risks and accelerate climate-resilient development across Nigeria. According to him, the financing mechanism is designed to attract domestic and international investors by preparing projects that meet investor expectations.
“Capital follows confidence, and confidence follows preparation,” Sanwo-Olu said. “The success of climate action depends not only on ambitious policies, but on credible institutions, technically sound projects, reduced investment risks and stronger public-private partnerships.”
He emphasised that Nigeria must strengthen its climate finance ecosystem by preparing projects that attract long-term financing. He commended the Climate Finance Preparedness Clinic for building the capacity of policymakers, regulators, financial institutions, project developers and development partners to develop technically sound and commercially viable climate projects.
“Its greatest contribution lies not simply in the conversations it has convened, but in the capacity it is helping to build,” Sanwo-Olu said.
The governor urged governments, financial institutions, development partners and private investors to deepen collaboration in addressing Nigeria’s climate financing gap. He noted that public resources alone would never be enough to fund the country’s climate transition.
“Public resources alone will never be enough. The future demands blended finance, stronger partnerships and institutions capable of preparing projects that inspire investor confidence,” he said.
The event also featured the unveiling of the Eco-Label Certification System, which the governor described as a tool to promote integrity in sustainability reporting and discourage greenwashing. According to him, the certification system will recognise organisations that demonstrate responsible environmental practices and reinforce accountability in sustainability efforts.
Titilayo Oshodi, Special Adviser to the Governor on Climate Change and Circular Economy, said the preparedness clinic strengthened the systems linking policy, institutions, projects, data and investment. She noted that participants committed to improving governance frameworks, strengthening institutions and mobilising more financial resources to support climate action across Nigeria.
Together, the Climate Finance Preparedness Clinic, the Climate Defence and Catalytic Fund and the Eco-Label Certification System form complementary pillars of an ecosystem designed to strengthen institutional capacity, improve project preparation, enhance investor confidence and mobilise the capital required to build resilient communities and sustainable economies.
The launch of the Climate Defence and Catalytic Fund represents a significant step forward in Nigeria’s efforts to address the growing challenges of climate change. As the country continues to experience the impacts of extreme weather events, including flooding and drought, the need for innovative financing mechanisms to support climate adaptation and mitigation has become increasingly urgent. The fund is expected to play a critical role in mobilising the resources needed to build a more climate-resilient future for Nigeria. For now, the focus remains on ensuring that the fund is effectively deployed to support projects that deliver tangible environmental and economic benefits for communities across the country.
