News

March 5, 2025

Climate Initiative: Lagos Govt, firm unveil Africa’s first subnational carbon exchange

Lagos State Governor, Sanwo-Olu.

Sanwo-Olu

…Launch 80 Million Clean Cookstoves Project

By: Olayinka Latona

In a bid to position Lagos as a leader in clean energy access and climate finance innovation, the Lagos State Government and GreenPlinth Africa have launched Africa’s first Subnational Carbon Exchange—the second globally after California.

As part of this initiative, the state will distribute 80 million clean cookstoves to rural women across Nigeria, enhancing both environmental sustainability and economic empowerment.

Speaking at the launch of the $80-million Paris Agreement Crediting Mechanism (PACM)-Compliant Clean Cookstoves Project Implementation Retreat in Lagos, themed “Clean Cooking Access for Africa – Leaving No One Behind,” Governor Babajide Sanwo-Olu emphasized Lagos’s commitment to driving climate action.

The governor, represented by the state’s Head of Service, Bode Agoro, announced that the distribution of clean cookstoves would commence in Makoko from June this year, with Lagos leading by providing six million units free of charge.

“Africa can no longer afford to be sidelined in the global carbon economy,” Agoro stated. “Beyond clean cooking, Lagos is making history with the launch of Africa’s first subnational Carbon Exchange.”

He further highlighted additional sustainability efforts, including:

Planting 300 million economic trees across Badagry, Epe, and Ikorodu, creating 80,000 jobs.

Establishing a state-of-the-art clean cookstove manufacturing facility, adding 13,000 permanent jobs to the economy.

Ensuring workers earn a minimum monthly wage of ₦100,000—43% above the national standard.

Funding seven ESG-aligned development projects per community.

Disbursing an annual ₦750 million green development fund across all LGAs and LCDAs.

Dr. Olawale Akinwumi, President & CEO of GreenPlinth Africa, described the 80 Million Clean Cookstoves Project as a groundbreaking move that positions Nigeria at the forefront of compliance carbon markets under the UNFCCC’s Article 6.4ER framework.

“This project is more than just a carbon initiative—it is a social impact revolution,” Akinwumi stated.

He outlined further commitments, including:

Allocating ₦750 million annually to each of Lagos’ 57 LGAs/LCDAs for green development.

Implementing a pay-to-cook initiative, rewarding beneficiaries with ₦10,000 monthly.

Promoting environmental awareness through LGA/LCDA-based clean cookstove champions, corporate ESG champions, and the Faces of Clean Cooking campaign.

With this initiative, Lagos is taking a bold step toward cleaner energy, improved public health, and sustainable economic growth.