The President of the Association of Waste Managers of Nigeria, Dr. Olugbenga Adebola, has projected that the global recycling economy will reach $4.5 trillion by 2030.


Adebola made this known in an interview with the News Agency of Nigeria (NAN) on Saturday in Lagos, noting that the projection underscores significant investment opportunities in recycling and the circular economy—particularly for rapidly expanding cities like Lagos.


He described waste management as a capital-intensive sector that requires substantial investment in infrastructure, including waste bins, collection logistics, material recovery facilities, and waste-to-energy plants.


According to him, macroeconomic challenges such as high inflation, rising fuel costs, and expensive financing continue to drive up operational costs for investors in the sector.


Adebola explained that although recycling infrastructure demands higher initial capital compared to landfill systems, it delivers greater long-term economic and environmental benefits.

President of the Association of Waste Managers of Nigeria, Dr. Olugbenga Adebola


“Waste management is not a social service. Investors must be able to recover their costs within a reasonable timeframe,” he said.


He stressed that efficient waste collection and proper segregation are critical to building a functional circular economy.


Adebola revealed that private waste operators in Lagos have generated over 26,000 jobs across both formal and informal sectors, including waste pickers and recyclers. He added that efforts are ongoing to formalise informal workers to improve efficiency and livelihoods.


Highlighting environmental concerns, he warned that poor waste disposal contributes to flooding, groundwater pollution, and microplastic contamination in oceans.


He noted that recycling plays a crucial role in reducing environmental degradation and promoting sustainability in urban centres.


However, Adebola identified weak enforcement and poor policy implementation—not policy absence—as Nigeria’s primary challenge in the sector.


He urged regulators, including the Lagos Waste Management Authority, to strengthen monitoring and enforcement mechanisms.


To attract more investment, he called for enabling policies such as long-term concessions, infrastructure support payments, and cost-reflective tariffs. He also advocated strict enforcement of the polluter-pays principle to ensure financial sustainability.


Adebola emphasised the importance of public awareness campaigns to shift perceptions and encourage citizens to view waste as a valuable economic resource.


Looking ahead, he described Nigeria’s growing population as an opportunity to harness increased waste generation for economic value creation.


He further recommended the adoption of waste traceability systems to improve accountability among waste generators and operators.


Adebola identified key challenges facing the sector as high interest rates, limited access to green financing, policy inconsistency, and bureaucratic bottlenecks.


He commended Lagos State Governor, Babajide Sanwo-Olu, for ongoing reforms in the waste management sector and urged other states to adopt similar measures.


Adebola reiterated that waste should be treated not as a burden, but as a resource capable of driving economic growth and environmental sustainability.


Source: NAN