Lagos Pushes for Circular Economy Adoption to Drive Sustainable Growth
Mary Nnah
Lagos State is making a concerted effort to drive the adoption of a circular economy, with the goal of transforming Nigeria’s economic landscape.
To this end, the Special Advisor to the Lagos State Governor on Climate Change and Circular Economy, Mrs. Titi Oshodi, has declared that the circular economy is no longer a concept, but a reality in Lagos and Nigeria.
Speaking recently in Lagos during the official launch of the Circular Economy Fund (CEF) hosted by the Intense Group, in Lagos, which marked a significant milestone in Nigeria’s journey towards sustainable development, Oshodi emphasised the importance of collaboration and data-driven approaches in achieving this goal.
“The circular economy in Nigeria and in Lagos, in particular, is no longer a concept under discussion. It is a system in motion,” Mrs. Oshodi said, highlighting the progress made in advancing circular economy practices in the state.
Her statement underscores the growing momentum behind Nigeria’s transition to a more sustainable and environmentally-friendly economy.
According to Mrs. Oshodi, the circular economy has gained momentum across various states in Nigeria, with Abia, Anambra, Ogun, and Kano States making notable progress. “It was really inspiring to see that this is not just limited to Lagos… They are putting their feet on the ground, committing to climate action, and really pushing forward,” she said.
Oshodi emphasized the importance of data-driven approaches, saying, “One of the things that I also noticed from the platform is how we must start being intentional about data.
“We must become very logical, create innovative systems and intelligent platforms that can help us to aggregate the numbers of what we are depositing.”
She also highlighted the potential of the circular economy to drive job creation and economic growth, saying, “It’s jobs that are not just in the big cities, they are close to home in the communities as well.”
Intense Group’s Business Growth Manager, Michael Ugbodu, echoed these sentiments, stating that the circular economy is an economic program that supports job creation, drives production, and business efficiency.
“Awareness is not the problem, adoption is,” he said, emphasising the need to support businesses and initiatives looking to adopt circular economy practices.
Ugbodu explained that Intense Group has been working to turn initiatives into adoption through awareness campaigns, behaviour-change programs, and sustainability storytelling.
“So, what we are trying to do in the circular economy is we support businesses, we support initiatives that are looking to adopt a circular economy. We help ideas come from awareness campaigns, sustainability storytelling, and we have done this in the past with big brands,” he said.
The CEF, unveiled at the event, aims to provide debt financing and technical assistance to support circular economy enterprises. Olawale Adebiyi, CEO of WeCyclers, shared insights from his organization’s experience in empowering communities through recycling and creating value from waste.
“We have had to make a lot of value from nothing,” he said, emphasizing the importance of making a compelling case for social impact and financial return when seeking investment.
“WeCyclers was able to raise capital of about 5 million euros… and we had to ensure that we made a very compelling case about the opportunity,” Adebiyi said, highlighting the challenges of fundraising for social impact businesses.
He added, “We had to ensure that we made a very compelling case about the opportunity… and not only do we sell the opportunity for social benefits, but we also had to make a strong case for financial return.”
Adebiyi also shared WeCyclers’ journey, noting the organization has been working since 2012 to empower people and create a sustainable business model. “We try to empower people by giving them a means of income, but also ensuring that we do it in a sustainable way,” he said.
Joshua Adedeji emphasised the importance of access to finance and mindset shifts in driving the circular economy forward. “The major challenge that we are seeing in the market is also the shift in the mindset especially when these businesses focus specifically on grants and that’s what we are seeing in our ecosystem,” he said.
Adedeji added, “For me today, looking at what we’ve done here, I think it’s to validate the morals of the law. I’m looking at the right instruments that can actually help the secular businesses to scale. And I love the fact that what we’re looking at specifically here is actually debt financing.”
As Lagos State continues to push for circular economy adoption, the need for collective action and support has never been more pressing.
With initiatives like the CEF, Nigeria is poised to unlock its potential for sustainable growth and development.
