By Abbas Nazil
Lagos State is advancing plans to transform its waste management sector into a major economic driver, targeting up to $250 billion in potential revenue through waste-to-wealth projects.
The 6th Lagos Waste Forum, organised by SWEEP Foundation NG with support from UNIDO, the European Union, and Coca-Cola Nigeria, brought together public and private sector leaders to explore strategies for turning the city’s massive waste streams into opportunities for economic growth, innovation, and environmental sustainability.
Special Adviser to the Governor on the Environment, Olakunle Rotimi-Akodu, representing Governor Babajide Sanwo-Olu, noted that Lagos generates enormous quantities of waste but stressed that within this challenge lies untapped potential for structured innovation and entrepreneurial initiatives.
He pointed out that the Lagos Waste Management Authority, under Managing Director Dr. Muyiwa Gbadegesin, is developing an integrated framework aimed at positioning Lagos as a leader in circular economy practices.
Representatives from the Food and Beverage Recycling Alliance cited that Nigeria produces 32 million tonnes of waste annually, with Lagos alone generating N18 billion in recycling value in 2021, underscoring the financial opportunities embedded in effective waste management.
The forum emphasised that circularity is not just an environmental necessity but also a strategic pathway to creating jobs, fostering innovation, and protecting natural resources.
SWEEP Foundation NG CEO, Obuesi Phillips, described existing dumpsites as “waste mines” and recommended the establishment of a Ministry of Waste Resources and a dedicated Green Bank to provide low-interest loans to entrepreneurs developing waste-to-wealth solutions.
Ogun State Commissioner for the Environment, Dr. Ola Oresanya, delivering the keynote lecture, urged governments to go beyond policy statements, advocating for research-driven, evidence-based interventions tailored to Nigeria’s local needs.
He further called for a skilled environmental workforce to implement sustainable practices across all levels of government.
The forum extracted a commitment from participants to prioritise financing, technological adoption, and community engagement, recognising these as crucial pillars for building a climate-smart, resource-efficient waste ecosystem.
Officials agreed that effective implementation of these strategies would position Lagos as a leading hub of circular economy innovation while generating significant socio-economic benefits for residents and the broader Nigerian economy.
