LAWMA Wants More Investments In Waste Management

The Managing Director,
Lagos State Waste Management Authority (LAWMA), Mr Ola  Oresanya, has called on entrepreneurs to explore investment opportunities in waste management and waste conversion processes.
Oresanya made the call while speaking to newsmen at the sixth edition of the Annual Lagos Climate Change Summit in Lagos.
He said that the state government had invested about $20 million (more than N3.2 billion) in a composite plant in Ikorodu  to ensure proper conversion of wastes to viable products.
He said that the government had also developed strategies to attract private investors into the waste management industry.
“Lagos State Government is the main risk bearer in business of waste management in other to make it profitable.
“Some foreign investors are currently showing interest in the business of waste management in Nigeria because of its profitability.
“We started with an awareness campaign a few years ago by developing benchmarks and creating platforms for gathering knowledge about climate change and the need for proper waste management.
“Right now, we are focused on how we can process the acquired knowledge into solutions by converting our problems into prosperity.
“The solutions will enhance job creation and create a new line in the economy,” he said.
Oresanya said that there was a huge prospects of financial prosperity in the conversion of liabilities to wealth, adding that its value chain was big enough to accommodate many investors.
According to him, waste generated in Lagos is an asset if properly managed.
He said that more than 5,000 people were currently working in the waste management industry.
“We have people who are converting pure water sachets into bin bags,
‘’We have daily-paid workers who pick used pure-water sachets on the roads for this purpose.
“We also have people who have invested in the machines converting the bags.
‘’We are also currently converting used pep bottles into fibre and furniture production.
‘’Entrepreneurs can also invest in the technology that will enhance proper management of wastes,’’ Oresanya said.