Lagos Plastic Ban: US-Nigeria Trade Council Warns Of Financial Strain On SMEs

The U.S.-Nigeria Trade Council (USTC) has raised alarms, stating that the abrupt prohibition of single-use plastic containers by the Lagos State Government will pose a significant financial burden on Small and Medium Scale Enterprises (SMEs) within the state.

Mr. Titus Olowokere, the President of the council, expressed these concerns in a statement released on Tuesday in Lagos.

He urged the government to carefully assess the economic consequences of the ban and collaborate with stakeholders to formulate sustainable waste management strategies.

While acknowledging the importance of environmental conservation, the council expressed worries about the potential negative impact on small businesses.

Olowokere stressed the need for alternative solutions that promote entrepreneurship, sustainable consumption, and waste management.

RELATED

Shettima To Represent Nigeria At 2nd UN Food Systems Summit In Addis Ababa

3 hours ago

ASIS 4.0: Stakeholders Pledge Collaboration To Unlock Africa’s Potential

8 hours ago

“We firmly believe that this ban will have detrimental effects on Lagos state economy and exacerbate the unemployment crisis.

“We urge the government to reconsider this decision and take into account alternative solutions that promote entrepreneurship, sustainable consumption, and waste management,

“This ban directly affects not only industry workers but also countless small-scale entrepreneurs who depend on the plastic sector for their livelihoods.

“Furthermore, from an economic standpoint, the ban imposes an enormous financial burden on businesses, particularly Small and Medium-sized Enterprises (SMEs), as they are forced to find alternatives or invest in costly infrastructure to comply with the regulation.

“This additional expenditure, coupled with the already challenging business environment, will impede growth and hinder economic development, not only in Lagos but in Nigeria as a country,” Olowokere said.

The USTC suggested that the Lagos State government encourage effective waste management as an alternative to the ban.

Olowokere urged collaboration with industry stakeholders to develop eco-friendly packaging alternatives and invest in recycling infrastructure to create new job opportunities.

“The establishment and expansion of recycling facilities will create new job opportunities and support the growth of a sustainable recycling industry in Nigeria.

“USTC advocates for collaboration between the Lagos State government, private sector entities, and civil society organisations to develop and implement waste management projects that drive entrepreneurship and job creation,” he added.

LEADERSHIP reports that the Lagos State Government had recently announced the ban on the usage and distribution of single-use plastics, citing environmental concerns.