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Industry players have estimated Nigeria’s recycling industry to be worth at least $2bn. Despite this potential economic opportunity, Lagos State has continued to battle the menace of plastic pollution, writes EDIDIONG IKPOTO
In an exclusive chat with The PUNCH, an environmental expert and President of the Lagos Recyclers Association, Femi Idowu-Adegoke, said the menace of plastic pollution that has perennially plagued Lagos State has been largely down to lack of willingness on the part of residents to adopt recommended waste disposal means that have been prescribed by the relevant authorities. According to him, Nigeria’s recycling industry has been estimated to be worth a staggering $2bn but has struggled to live up to this lofty estimation due to the menace of indiscriminate disposal of waste and poor orientation of Lagos residents on how to work with professionals to convert this liability to a viable economic opportunity. More details at: https://punchng.com/lagos-battles-plastic-pollution-amid-2bn-recycling-industry
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By investing $1.5 billion in climate adaptation, Nigeria can prevent climate damages and about $19.9 billion in GDP loss to its economy, a study by Standard Chartered has shown.
The study, ‘The Adaptation Economy’, which investigates the need for climate adaptation investment in 10 markets, including Nigeria, China, India, Bangladesh, and Pakistan, revealed that without investing a minimum of $30 billion in adaptation by 2030, these markets could face projected damages and lost GDP growth of $377 billion – over 12 times that amount. More details at: https://guardian.ng/business-services/climate-adaptation-investment-can-help-nigeria-avoid-19-9b-gdp-loss Bank of Industry signs $100 million agreement with France to combat climate change in Nigeria24/8/2022 Nigeria’s Bank of Industry has signed a deal valued at $100 million with the French Development Agency for the expansion of green finance in Nigeria to tackle climate change.
The deal was signed by Managing Director, BoI, Mr Olukayode Pitan and Mr Xavier Muron, Country Director, AfD in Lagos, according to the News Agency of Nigeria. He stated the transaction was approved by AfD under its Transforming Financial Systems for Climate (TFSC) Programme with the Green Climate Fund (GCF). More details at: https://nairametrics.com/2022/08/24/bank-of-industry-signs-100-million-agreement-with-france-to-combat-climate-change-in-nigeria/ In a bid to sustain a healthy port environment, the APM Terminals Apapa, has signed a Memorandum of Understanding (MoU) with an indigenous firm, FREEE Recycle Limited, to recycle its used tyres.
In December 2021, APM Terminals carried out a successful trial by using pavement blocks produced out of recycled and compressed used tyres for exterior flooring. Speaking at the signing ceremony in Lagos, the Terminal Manager, APM Terminals Apapa, Steen Knudsen, said the MoU is in furtherance of the company’s contribution to reducing the harmful effects of industrial wastes on the environment. More details at: https://www.vanguardngr.com/2022/06/port-pollution-apm-terminals-signs-mou-to-recycle-used-tyres/ In an effort to raise climate-resilient and low emissions in Africa, the Green Climate Fund (GCF), one of the world’s largest climate funds, has approved more than $194 million for Nigeria and 12 other African countries as part of its Inclusive Green Financing Initiative (IGREENFIN I).
The decision was made at the recently concluded 31st meeting of the GCF Board, dubbed B.31, which was held virtually from March 28 – 31, 2022. More details through: https://businessday.ng/energy/article/green-climate-fund-approves-194m-financing-for-nigeria-12-others/ The Plant is the first phase of the planned 21,000MT capacity facility at the OPIC Industrial Estate, Makun, Sagamu.
The Commissioner for Industry, Trade and Investment, Mrs Kikelomo Longe, while speaking at the inauguration, stated that the present administration through its ‘Building Our Future Together’ agenda had been upgrading infrastructure and implementing various programmes on education, youth empowerment, agriculture, social welfare and well-being. “It is important to echo here the government’s special genuine interest in providing an enabling environment for businesses to thrive, despite the enormous challenges in the country. The Prince Dapo Abiodun-led administration from inception has upgraded major infrastructure, such as the construction of new roads, rehabilitation of existing ones and sustaining the security architecture,” Longe said… More details through: https://dailytrust.com/7000mt-recycling-plant-berths-in-ogun The Katsina State Government has signed a Memorandum of Understanding (MoU) with a Malaysian firm, Bionas, to invest $199 million (N82.037 billion) for the production of bio-fuel from Jatropha plant in the state.
The MoU which was signed at the Government House Katsina on Tuesday will involve the management of domestic waste for clean energy production. Governor Aminu Masari said the project, apart from its “unquantifiable economic benefits”, would help in preserving the environment and addressing issues of climate change… More details through: https://dailytrust.com/katsina-firm-sign-pact-for-n80bn-energy-project Nigerian Breweries Plc, Nigeria’s foremost brewing company has launched a plastic recycling project tagged “NB Recycles” among employees as well as its host communities. This initiative is part of its sustainability agenda of ‘Brew a Better World’ (BaBW).
As part of the project, various collection points will be set up in all nine brewery locations of Nigerian Breweries across the country (as well as the respective host communities) to encourage staff and members of the public to embrace the habit of recycling by returning all plastic bottles, aluminium cans, paper, cartons, nylon, and glass in exchange for monetary rewards. In Lagos, the company has set up a collection point at its headquarters for staff, and also donated four recycling bins to the Ijora community in Lagos to promote community-led plastic recycling and combat plastic pollution in the area… More details through: https://thenationonlineng.net/nigerian-breweries-unveils-plastic-recycling-project/ Coca-Cola Nigeria has said it partnered with non-profit organisations to reduce plastic pollution across the country. In a statement on Thursday, it said it would be doing more to promote environmental sustainability as part of efforts to commemorate the World Environment Day. It stated that it had introduced initiatives to protect the environment through its philanthropic arm, the Coca-Cola Foundation…
More details through: https://punchng.com/cocacola-ngos-to-clear-plastic-waste-in-nigeria/ After years of struggling to make a living selling recyclable parts from electronic waste recovered in Africa, Dutchman Joost de Kluijver realised he needed a new business model if his firm was going to survive.
So in 2016, Closing the Loop began tagging a fee onto new device purchases by its clients, which include major bank ABN Amro and the Dutch government. By adding roughly 5 euros ($6) per phone and 15 euros ($18) per laptop, Closing the Loop now funds electronic waste collections in a string of African countries including Nigeria, Ghana and Cameroon, and ships it to a recycling facility in Italy… More details through: https://www.reuters.com/article/idUSL5N2NC533 |
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