…Launches EcoNexus
Amid environmental challenges buoyed by climate change, and the imperative of turning waste to wealth, the Lagos State government has sought the collaboration of the private sector in developing and harnessing the potential of the state’s circular economy.
A circular economy entails a model of production and consumption, which involves sharing, leasing, reusing, repairing, refurbishing and recycling existing materials and products rather than discarding them. In this way, the life of the products is extended and continues to serve useful purposes.
Ope George, Lagos commissioner for economic planning and budget, speaking at the official launch of EcoNexus, on Friday, said the state was determined to attract investments, technology, and expertise to accelerate Lagos’ transition to a sustainable circular economy.
The EcoNexus is a transformative initiative aimed at reinforcing Lagos State’s commitment to sustainable economic growth and climate action.
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“EcoNexus marks a new chapter for Lagos—a platform designed to streamline circular economy efforts, eliminate redundancies, and establish a coordinated system for resource management and waste recovery. By centralising these efforts, we aim to maximise resources and ensure each initiative significantly contributes to our shared objectives and Key Pillars of EcoNexus”, said George at the event, which attracted investment bankers and stakeholders in the waste-to-wealth eco system.
According to the commissioner, the government aims to leverage EcoNexus to mobilise investments through public-private partnerships (PPP) to tap into the state circular economy.
“EcoNexus serves as a direct link between the private sector and government bodies, ensuring that policies are aligned with industry best practices. By creating an enabling environment, we encourage innovation and adaptive policies for sustainable growth.
“EcoNexus will create an efficient, unified approach to resource recovery and waste management, eliminating past inefficiencies.
“We seek to attract investments, technology, and expertise to accelerate Lagos’ transition to a sustainable circular economy, fostering deeper partnerships that benefit both businesses and society”, he noted.
George restated the commitment of the state government to aligning its budget priorities with EcoNexus goals, supporting climate action and green investment to build an inclusive, resilient economy, adding: “I urge industry leaders, innovators, and policymakers to seize this opportunity and collaborate in shaping a sustainable future for Lagos.”
Also speaking at the event, Titilola Oshodi, the special adviser to the state government on climate change and circular economy, said the circular economy was at the heart of Governor Sanwo-Olu’s THEMES++ agenda, particularly in areas like health, environment, and economic development.
According to Oshodi, with the launch of the EcoNexus, the state is set to catalyse connections across sectors and align public policy with private-sector innovation.
“By integrating circular practices, we are addressing waste management, reducing pollution, and creating new job opportunities. Our purpose-driven initiatives demonstrate how the circular economy is supporting not only environmental sustainability but also the broader goals of the THEMES++ agenda—driving social inclusion, economic growth, and technological advancement. It’s this alignment with Lagos State’s vision that makes our work even more impactful.
The SA noted that a key opportunity for all stakeholders in the value chain lies in the international carbon markets, where sustainable projects cannot only benefit the environment but also deliver real financial returns.
“Big corporations, through circular economy initiatives, can tap into these markets by developing projects that reduce carbon emissions and CO2. This creates potential for earning in USD by trading carbon credits, a lucrative avenue that has been underexplored. Imagine the returns we could see from projects like the Blue Rail, where the abated emissions, when captured, could turn into a significant revenue stream”, she explained.
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