Lagos State Governor, Babajide Sanwo-Olu, has called for sustainable private and philanthropic financing to address the inadequacies in Lagos State’s water infrastructure
Speaking at a side event of the United Nations climate change conference in Dubai on Friday, Governor Sanwo-Olu highlighted the challenge faced by Lagos, with over 22 million residents, where only 210 million gallons of the required 700 million daily potable water needs are met.
Acknowledging the financial constraints, Governor Sanwo-Olu emphasized the urgency of finding solutions, particularly for underserved communities facing a high public risk due to the water deficit.
He indicated that Lagos requires less than 1% of the global $1.7 trillion clean water investment gap, expressing hope that the discussions at the event would lead to sustainable solutions.
The governor stressed the importance of committed partners believing in the economic viability of their investments to address the water inadequacy affecting millions of people.
Additionally, he highlighted the impact of irregular electricity, causing installed capacity utilization to remain below 40%, and called for equitable distribution of climate financing to cities like Lagos, where a large youth population could benefit significantly from impact funding.
Under the theme “Valuing Water: A Lifeline in Climate Transition,” the event was organized by the Business and Philanthropy Climate Forum and Sustainable Market Initiative at the ongoing 28th session of the Conference of Parties (COP28) at the Dubai Exhibition Centre.
The Valuing Water roundtable featured discussions on increased global investments in clean water projects, drawing attention to the critical role water plays in climate transition and the need for collaborative efforts to address water challenges worldwide.
