Our study highlights some of the issues Lagos is struggling with as a growing megacity within the context of climate change, environmental travails, and urban finance. The ever-expanding population and resultant urban expansion make Lagos subject to sea-level rise, extreme weather conditions, and general environmental degradation. Our study assesses the financial feasibility of transforming Lagos into a sustainable city by comparing the costs and benefits of sustainable urban development. We examine the role that is played by local government, public policy, and community efforts in maintaining low levels of climate risk and increasing resilience. Our work synthesizes perception from environmental science, urban planning, and policy analysis to develop a new perspective on how sustainable finance can support the long-term stability of Lagos. Our findings inform our pragmatic recommendations to policymakers and urban planners on how good governance, innovative financing solutions, and active community engagement are sorely needed to engender a resilient and sustainable future for Lagos.