The Lagos State House of Assembly is set to pass a bill which will give direction to the dream state of being the greenest city in Africa.
The bill, among others, is aimed at opening the door to foreign and domestic investors in environmental management.
This represents a healthy environment legislation includes a broad and sustainable waste management plans with a focus on the potential of the state in recycling, waste reduction and materials recovery.
The bill also drives the adoption of innovative technologies in tackling environmental problems.
"The environmental bill core provisions guarantee investment protection by providing government-backed guaranteed contracts and improved enacting mandatory standards for the implementation of the new law"
Creating markets and market place in major industry is one of the strategies of the Lagos State government to promote long-term investment. There is a burgeoning unofficial economy fueled by recycled waste in Lagos. Thousands of waste pickers scavenge in urban spaces for recyclable materials like their peers in Mumbai and Manila, most waste pickers live in landfills as they make a meager living off retrieved reuse items they sell.
However, the waste pickers barely make a dent percent to nearly five million tonnes of waste produced annually by 22 million people in the megacity. Some trends are useful to industry and increased demand for services in waste management. Interestingly, the increase in the demand for the collection and processing of recyclable material and RDF (Refuse Derived Fuels) as is the case in Sweden.
One of the main highlights of the bill is the introduction of the Public Utilities Levy (PUL) which will be an annual property-based fee on Lagos State Environmental Trust Fund. The trust fund is bemanaged by a board of SEC regulated, independent trustees from the private sector that is accountable to the people and ensure the judicious use of resources. The PUL replace all the existing charges LAWMA and will drive the development of advanced technologies, fund physical infrastructure and services, help create a stable and complementary assets for the benefit of citizens.
The bill also focuses on intensifying enforcement efforts mandated by the commissioning authority undertaking the implementation of fines and other punitive measures for non-compliance. The imposition of severe sanctions designed to force people to comply with the reforms. It proposes for implementation led a rebranded KAI (Kick Against indiscipline) with a carefully laid out plan for its transformation into the Corps Environmental Sanitation Agency. The Environmental Corps was supported by PUMAU (Public Utilities Assurance Monitoring Unit) of a unit that will have oversight responsibility through the use of innovative monitoring tools to ensure the new standards are effectively implemented.
restructuring creates new operational parameters where the existing PSPs (private sector participants) who work in the commercial and public sectors. The law makes new provisions to protect the interests of existing investments by requiring all commercial entities that have a valid and enforceable contract with a registered operator.
The dynamic opportunities in the waste industry make the current ineffective and mismanaged industry rife with profitable opportunities. Businesses adept ability to be able to make a significant impact on the waste problem of Lagos and establish a viable business.
Waste Management Co., a leading waste management company in the United States recently announced its 3rd quarter earnings for 2016 were $ 3.55 billion citing an overall revenue increase of 5.6% from the first half of the year. Republic Services is the second largest player in North America with a market capital of $ 19.49B.
Veolia is the world's second largest waste management companies have expressed interest in partnering with the State and is expected to be one of these investors. Veolia's market value is estimated to be over $ 29 billion.
Incontrovertibly, striking the right balance between a sustainable business model and innovative solutions that address the uniqueness of the landscape Lagos State to propel its development goals.The passage of the bill will signify a monumental victory for the environment and public health advocates have prevailed on governments to tackle the environmental crisis in Lagos.
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