By Abdullahi Lukman
The President of the Association of Waste Managers of Nigeria, Olugbenga Adebola, says the global recycling economy is projected to reach $4.5 trillion by 2030, highlighting major investment opportunities in the sector.
Speaking in Lagos, Adebola said the projection underscores the potential of recycling and circular economy systems, particularly for rapidly growing cities like Lagos.
He noted that waste management is highly capital-intensive, requiring significant investment in collection systems, logistics, and processing infrastructure such as material recovery and waste-to-energy facilities.
He added that inflation, rising fuel costs, and expensive financing continue to drive up operational expenses for investors.
Adebola explained that although recycling infrastructure demands higher initial investment than landfill systems, it offers stronger long-term economic and environmental benefits.
He stressed that cost recovery remains essential for sustainability in the sector.
The expert identified efficient waste collection and segregation as critical to building a functional circular economy, adding that private sector operators in Lagos have already generated more than 26,000 jobs across formal and informal segments.
He also highlighted ongoing efforts to formalise informal waste workers to improve livelihoods and operational efficiency.
On environmental risks, Adebola warned that poor waste management contributes to flooding, groundwater pollution, and microplastic contamination, while recycling can significantly reduce environmental damage and support sustainability.
He, however, pointed to weak enforcement of existing policies as a major challenge in Nigeria, urging regulators such as the Lagos Waste Management Authority to strengthen oversight and compliance mechanisms.
Adebola called for enabling policies, including long-term concessions, infrastructure support, and cost-reflective tariffs, alongside enforcement of the polluter-pays principle to attract investment.
He also emphasised the need for public awareness to shift perceptions and encourage viewing waste as a valuable resource, noting that Nigeria’s growing population presents an opportunity to harness waste for economic development.
Adebola commended Babajide Sanwo-Olu for ongoing reforms and urged other states to prioritise sustainable waste management practices.