Lagos State government launched an Environmental, Social, and Governance (ESG) workshop at the weekend to promote a green and circular economy practice.
The workshop specifically targeted Nano, Micro, Small, and Medium Enterprises (NMSMEs) to boost the state’s economic prosperity.
The forum, tagged inaugural Economy Business Network (EBN) workshop was hosted by the Office of the Special Adviser to Governor Sanwo-Olu on Climate Change and Circular Economy with the theme: “Empowering Green Growth: Building Capacity for a Sustainable Circular Economy” is designed to equip eco-enterprises with practical guidance, build a community of Change-Makers and positioning Lagos as a leader in Circular and Green Economic Development.
In her opening remarks at the event held at the Lagos Chamber of Commerce, LCCI, the Special Adviser on Climate Change and Circular Economy, Mrs. Titi Oshodi, said the workshop was an important step forward in stimulating the State’s economic growth by embracing Environmental, Social, and Governance (ESG) principles in the circular economy.
Mrs. Oshodi said that the EBN is more than just a network; it is a dynamic ecosystem designed to empower eco-enterprises and support sustainable business practices across Lagos State.
She noted that since the launch of the EBN, over 500 eco-enterprises have been nurtured, providing them with the necessary tools, resources, and networks to thrive in an increasingly competitive yet environmentally conscious marketplace.
Explaining the various projects being championed by her office to realise a circular economy development, she said “Our office has been fiercely committed to delivering innovative solutions that not only address pressing environmental challenges but also create pathways for social inclusion and economic growth”.
“Initiatives, like Let Lagos Breathe, Eco-Circulate, and Leave No One Behind, have begun laying the foundation for a transformative shift in how we engage with our environment. Today’s forum is an integral extension of that ongoing journey”, the Special Adviser added.
In his address, Commissioner for Economic Planning and Budget, Mr. Ope George said Lagos sits as the bedrock of the NMSMEs forming the backbone of the economy, adding that the enterprises are not only job creators but also catalysts for innovation and resilience.
George, represented by the Special Adviser to the Governor on Economic Planning and Budget, Mr. Lekan Balogun, emphasised the State government’s priority in placing importance on economic inputs that ensure meaningful outcomes on the well-being of the populace.
His words: “Lagos State is home to a vibrant ecosystem of Nano, Micro, Small, and Medium Enterprises (NMSMEs), which form the backbone of our economy. These enterprises are not only job creators but also catalysts for innovation and resilience”.
“For Lagos State, prioritizing economic impact is essential in evaluating the outcomes not only of the circular economy but across all sectors, ensuring that every initiative contributes meaningfully to the prosperity and well-being of our people”.
While noting that the establishment of the EBN in May 2024 marked a significant milestone in efforts to drive sustainable economic growth, the Commissioner said, “We are witnessing firsthand how sustainability-driven business models can unlock economic opportunities while addressing environmental challenges”.
He emphasised the need for the workshop to pay attention to ESG principles and green financing, which stresses the government’s commitment to empowering NMSMEs to thrive in a competitive global market.
“By integrating ESG principles, we are ensuring that the economic outcomes of these initiatives are measurable, impactful, and aligned with the overarching goals of inclusivity and shared prosperity”.
Various presentations were delivered on “Building a Financially Sustainable and Bankable Business Plan” by Mrs. Temitope Olugbile, Financial Advisory from Deloitte; ESG by CEO, Integritas limited, Dr. Adebola Odunsi and CEO, Tese (an ESG Solutions firm).
