Nigerian Government To Transform Waste Into Economic Opportunity

The Federal Government has pledged its commitment to implementing the End-of-Life Vehicle (ELV) Regulation to protect the environment and transform waste into economic opportunities.

The Minister of State for Industry, Trade and Investment, Sen. John Enoh, made this known at a stakeholders’ engagement organised by the National Automotive Design and Development Council (NADDC) in Lagos.

He stated that Nigeria has the potential to develop a multi-billion-dollar industry from waste, creating a vast and valuable economic chain.

“I don’t think this sector will be sidelined. Instead, it will be empowered. If we establish it now, we will have waste collectors and green entrepreneurs.

“A sector worth about 60 billion dollars globally is growing, and Nigeria cannot afford to be left out. Considering our circumstances, we must take a central role.

“Of the 500,000 vehicles imported into Nigeria annually, about 400,000 are used. This leaves the country highly exposed to environmental hazards.

“This waste is inevitable. It is crucial that we adhere to this regulation, which is designed to protect our environment from the dangers posed by ageing vehicles.

“In today’s world, waste is no longer just waste; it is an untapped resource. Used vehicles are no longer discarded but repurposed to create value,” he said.

The minister praised NADDC Director-General, Joseph Osanipin, for his dedication to advancing Nigeria’s automotive industry.

“We must move beyond mere discussions. We need results and immediate action. I commend the DG for his efforts, which are truly commendable” he said.

NAN News/Jamiu Ogunshe