As the Lagos government partners the United Nations Industrial Development Organisation (UNIDO) to advocate and deepen the value chain in a circular economy, it reveals that the state loses $7 billion annually.

The general manager of Lagos State Environmental Protection Agency (LASEPA), Dolapo Fasawe, said this at a circular economy workshop held on Tuesday in Lagos.

Ms Fasawe said a study by the World Bank few years ago disclosed that Lagos was losing about $7 billion annually for not embracing a circular economy.

“We are losing $7 billion annually, and the essence of this conference is to invite investors and people to join us in this advocacy for recycling, reusing and creating industries, jobs, and, more important, a cleaner environment,” explained the LASEPA chief. “You will not see these plastics on the road again if we put this approach of the circular economy on plastic waste.”

Ms Fasawe said the partnership targeted a paradigm shift from a linear to a circular economy. She added that the workshop on the circular economy was in partnership with UNIDO, Lagos state and the federal government.

According to Ms Fasawe, the collaboration at the state government is among the agencies under the Ministry of Environment and Water Resources and the Organised Private Sector.

She said the circular economy advocacy involves sensitising the public to the benefits of plastic waste.

“The truth is Nigeria, by 2025, will be the largest producer of plastic waste. We need to step up our activities in recycling and circular economy. Once plastic is used, it should not just be deposited anywhere,” stated the LASEPA boss. 

Ms Fasawe added, “It can be reused, recycled, and reduced to something else. This is because plastic is not degradable. And when we say economics and plastic, it means that there’s a lot of money that can be made out of plastic waste.”

(NAN)