The environmental problems confronting the Lagos Metropolis is examined in this paper. The problems are both natural and man-made and can be grouped into physical, sociological and management. After describing the phenomena of poverty and environmental degradation, the paper examines the nature of prevalent environmental problems in the Lagos Metropolis and the causes and consequences. It was discovered that the urban poor play a major part in causing these problems. They are also particularly vulnerable to the consequences of problems. Lagos metropolis is quite far from achieving any of the targets of the Millennium Development Goals. The paper concludes by advancing good urban governance as a strategy for achieving a sustainable Lagos Mega-city and meeting the targets for the MDG’s.