Governor Babajide Sanwo-Olu of Lagos State has reaffirmed the state’s commitment to integrating economic prosperity with global sustainability goals. Speaking at the $80-million Paris Agreement Crediting Mechanism (PACM)-Compliant Clean Cookstoves Project Implementation Retreat, Sanwo-Olu emphasized Lagos’s leadership in clean energy access and climate finance innovation.
The Clean Cookstoves Project, the largest of its kind in the world, is set to generate 1.2 billion tons of carbon offsets and unlock multi-billion-dollar green revenue streams while creating 35 million green jobs. As the anchor state, Lagos plans to distribute six million clean cookstoves for free, aiming for both environmental impact and economic empowerment.
In addition to clean cooking, Lagos is making strides with the launch of Africa’s first subnational Carbon Exchange, the second globally after California. Developed in partnership with GreenPlinth Africa and other international collaborators, the platform is set to position Lagos as a hub for compliance carbon markets, attracting significant climate capital and low-carbon investments.
Sanwo-Olu, represented by the Head of Service Bode Agoro, emphasized that Africa must not be left out of the global carbon economy. He stated that Lagos would set a new standard for subnational governments across the continent, fostering a self-sustaining green economy and decarbonizing public assets.
The initiative also includes a “pay-to-cook” program, offering beneficiaries ₦10,000 monthly stipends and free health insurance. The project will support reforestation efforts, planting 300 million trees across Lagos, and create 80,000 jobs in the process. Additionally, the establishment of a clean cookstove manufacturing facility will create 13,000 permanent jobs, paying above the national wage standard.
Sanwo-Olu commended Mrs. Titilayo Oshodi of the Office of Climate Change & Circular Economy for her leadership, as well as GreenPlinth Africa for its role in driving the project forward. The COP30 summit was also mentioned as an opportunity for stakeholders to support the initiative, positioning Lagos as a global leader in climate finance.
Dr. Olawale Akinwumi, President & CEO of GreenPlinth Africa, described the project as a historic step for Nigeria, positioning the country at the forefront of global carbon markets under the UNFCCC’s Article 6.4ER framework. He highlighted the collaboration with Carbon AI and McAlpha Inc., which will ensure transparency, accountability, and the creation of local manufacturing jobs.
Additionally, 19 states have pledged support for the initiative, which is expected to transform Nigeria’s approach to climate resilience and sustainable economic growth.
