Lagos targets new wealth from circular economy

<p>Lagos State Governor, Babajide Sanwo-Olu, on Wednesday, disclosed that the state is shifting to an innovative and sustainable consumption model aimed at saving future generations of resource scarcity.</p>, <p>Sanwo-Olu made this known at the formal launch of Circular Economy Hotspot in Lagos at a conference organised by the state government in collaboration with the Circular Economy Innovation Partnership (CEIP) and the African Circular Economy Network.</p>, <p>The launch of Circular Economy Hotspot in Lagos on Wednesday pioneered the transformation of the current production order towards regeneration and sustainability.</p>, <p>The two-day event with the theme: ‘Towards a Circular and Resourceful Economy: The Future Lagos’, is taking place at Lagos Continental Hotel, Victoria Island.</p>, <p>The initiative is aimed at engendering a new pattern of production and consumption involving producing, repairing and recycling of used materials. The circular economy is based on the regeneration of products for continuing production in a sustainable and environmentally-friendly manner.</p>, <p>Sanwo-Olu, while unveiling the initiative, said the idea was critical to the future of Nigeria, noting that a circular economy would proffer a programmatic approach to addressing global economic crises occasioned by pollution, climate change and loss of biodiversity.</p>, <p>According to him, the state government made the move in championing the initiative to create new wealth for the youths in Small and Medium Enterprises (SMEs), adding that the initiative would generate more jobs, as additional innovative production ideas and extra manpower would be required to keep the regenerated materials in the loop for a long time.</p>, <p>“The Circular Economy Hotspot 2023 is of utmost importance, not only for Lagos and Nigeria but for the entire sub-Saharan Africa. This speaks to my administration’s core principle of encouraging citizens’ engagement and partnerships in our bid to sustain a resilient socio-economic development for Lagos. D