preservation, and social justice at the front burner. preservation, and social justice at the front burner.
The country has made some progress in developing the financial architecture for driving green growth, namely green finance or sustainable finance. For instance, Nigeria has one of the most developed green bond markets in Africa. It became the first African economy to issue a sovereign green bond in 2017 when the government issued a N10.69 billion green bond. This was followed by the N15 billion green bond issued in 2019, and which was oversubscribed by 220 per cent.
In response to the country’s growing need to reduce its carbon footprint as a result of its excessive usage of plastic, the Federal Government has turned to plastic recycling and launched programmes to strengthen the recycling industry. Specifically, the growth of the recycling industry has demonstrably led to a surge in green jobs and opportunities. This is evidenced by the increasing number of private partnerships with waste management agencies and the rising memberships in reputable industry organisations.
Also, in Lagos, the Private Sector Partnership with the State’s Waste Management Authority for waste collection, transportation and recyclers that had 116 partnerships in 2004, has seen a dramatic rise at 243 per cent, reaching a record of 364 partnerships as of 2024. He said: “In Anambra State, communities are being mobilised and incentivised to engage in the recycling of plastic with the ‘All Anambra State’s Community Plastic Pickup Challenge’ with its first launch in 2023 involving 179 communities in the state and saw the mop-up of approximately 10,000 tonnes of plastic waste in two months.
preservation, and social justice at the front burner.
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