Lagos Launches Partnership to Attract Private Investment in Water Sector
Bennett Oghifo
The Lagos State Government has launched a platform for public, private collaboration, known as Lagos Water Partnership (LWP), to attract private investment into the state’s water sector.
“By channeling private investment to complement public resources
and uniting key stakeholders from both sectors, the Lagos Water Partnership aims to create and
implement a robust investment environment,” said the Commissioner for the Environment and Water Resources, Mr. Tokunbo Wahab at the inauguration of the LWP, recently.
According to Wahab, in December 2019, Governor Babajide Sanwo-Olu directed the Ministry of the Environment and Water Resources to establish a Technical Advisory Committee on the Green Climate Fund bid, which attracted the Resilient Water Accelerator (RWA), an innovative initiative dedicated to mobilising private and public finance for water projects that enhance climate resilience in vulnerable communities.
The Resilient Water Accelerator is now collaborating with the Ministry to form the Lagos Water Partnership (LWP).
The Lagos Water Partnership, he said, aligns perfectly with the Lagos State Government’s vision of “leveraging partnerships to improve the environmental and water resources management.
“This initiative is a testament to the THEMES+ agenda of Mr. Governor’s commitment to
sustainable development. The Ministry is confident that this partnership will significantly
strengthen Lagos’ water resources while ensuring sustainability and top-tier performance. “The Ministry has high expectations for the success stories and transformative projects that the Lagos Water Partnership will bring to our city, fully aligned with the THEMES+ agenda for a greater Lagos.
Governor Sanwo-Olu, represented by the Secretary to the State Government, Abimbola Salu-Hundeyin, said, “The establishment of the new Lagos Water Partnership represents a major milestone in the Resilient Water Accelerator’s mission to unlock new sources of financing for necessary climate-resilient water projects. This could include enhancing urban and rural water supply infrastructure, introducing innovative technologies, and spearheading the review and development of sector policies and regulations.”
The Chief Executive Officer of the Resilient Water Accelerator, Kate Hughes, said: “The inauguration of the Lagos Water Partnership marks a significant milestone in our collective efforts to build resilience and ensure sustainable water access for all. By improving water systems, we can enhance the health, economic stability, and quality of life for the people of Lagos, reducing disease and freeing up time for education and employment opportunities. By forging partnerships and mobilising resources, we can create lasting impact and transform the water landscape in Lagos and beyond.”
She said the Resilient Water Accelerator is dedicated to this vision in Lagos. “We are working to increase the flow of both private and public finance into crucial water projects. We aim to build resilience to climate change by bringing together key decision-makers, technical experts, and investors; and this is at the heart of the LWP. Together, we can create ideal pipelines for interventions that address water risk, strengthen resilience, and attract significant investment.
“To catalyse investment, projects need to be developed that have clear operating models, which can generate revenues, but which also take into account the impacts of climate change, and the improved resilience and equity of all people in Lagos. This collaborative spirit is the essence of the Lagos Water Partnership.”
The CEO of the AFC Capital Partners, Ms Ayaan Adam said, “The Lagos Water Partnership is a template that could be used to drive a national framework for public and private partnership in water resources management. She said the Partnership will drive resources including innovative finance, technology and expertise into the water resources sector in Lagos State. She urged all members of the LWP to prepare to do the hard work of attracting investment into the sector to the benefit of everyone in Lagos.”
