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Private sector investment in Lagos waste management value chain hits N28bn

By on May 4, 2015

A total of N28 billion was invested by local and foreign investors into the entire value chain of waste management process in Lagos State since 2007, Ola Oresanya, managing director, Lagos Waste Management Authority (LAWMA), has revealed.
Oresanya, who disclosed this to BusinessDay on the sidelines of the 2015 ministerial briefing organised by the Ministry of the Environment, said the investment is largely instrumental to the agency’s ability to meet as much as 90 percent of its set target over the period.
According to him, the investment, which spills through the entire waste management process, sweeping, waste collection and recycling, has largely been possible due to the enabling environment provided by the agency.
“In the last eight years, private sector investments on our public private partnership programmes have risen to N28 billion,” Oresanya said, adding that the investment encompasses the entire value chain of waste management in the state.
Waste management in Lagos has assumed a new dimension since the formation of the Lagos Waste Management Authority (LAWMA) in 2007 with concrete efforts towards converting the state’s environmental liabilities to assets, yielding profits through a well-tailored value chain.

 

[Business Day]