Lagos Targets $250bn Revenue From Waste-to-Wealth Projects

The Lagos State Government has intensified efforts to harness Nigeria’s estimated $250bn green economy potential, positioning waste-to-wealth initiatives as a major driver of economic growth, environmental sustainability and job creation.

This commitment was reinforced at the 6th Lagos Waste Forum held in Lagos, where public and private sector leaders converged to explore strategies for transforming waste into a tool for economic resilience and circular development.

According to a statement, the forum was organised by SWEEP Foundation NG with support from UNIDO, the European Union and Coca-Cola Nigeria, under the theme, “The Power of Nigeria’s Waste Economy.”

Representing Governor Babajide Sanwo-Olu, the Special Adviser on the Environment, Olakunle Rotimi-Akodu, highlighted Lagos’ central role in Nigeria’s circular economy, noting that the state’s huge waste generation also presents vast opportunities for innovation and enterprise.

He explained that agencies such as the Lagos Waste Management Authority (LAWMA), led by its Managing Director, Dr Muyiwa Gbadegesin, are building an integrated framework that positions Lagos as a hub for circular economy innovation.

“Lagos generates vast quantities of waste, but within this challenge lies a significant opportunity, one realised through structure, innovation and entrepreneurial intelligence,” Rotimi-Akodu said.

“Circularity is not just an ecological necessity but a strategic pathway to jobs, innovation and environmental protection. Nigeria’s green economy holds a potential of up to $250bn if properly harnessed,” a representative of the Food and Beverage Recycling Alliance stated.

The President and CEO of SWEEP Foundation NG, Obuesi Phillips, described dumpsites as emerging “waste mines” and advocated the creation of a Ministry of Waste Resources and a dedicated Green Bank, as stakeholders at the forum pledged to prioritise financing, technology adoption and community engagement to accelerate Nigeria’s transition to a climate-smart waste ecosystem.