Waste to wealth: The rise of recycling economy - News Summed Up

Waste to wealth: The rise of recycling economy


While Nigeria’s average plastic waste generation figures are still hard to quantify, estimates indicate that the country ranks ninth in the world with the most plastic waste – a whopping 2.5 million metric tonnes yearly. In 2021, a report from the Lagos State Waste Management Authority, indicated that the recycling economy of the state generated as much as N18 billion. From all indications, this is a flourishing industry that extends beyond just waste collection; it encompasses a vibrant ecosystem that involves waste collection, sorting, processing into bales or flakes, and recycling of these materials into resins or other reusable materials. This transformative process gives rise to a circular economy, where plastic waste becomes a valuable resource, promoting sustainability and economic growth. In all of this, some observers have noted that a critical element in tackling the challenges posed by plastic waste can be achieved through collaboration.


Source: The Guardian June 27, 2024 03:36 UTC



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