Gov. Babajide Sanwo-Olu of Lagos State has approved a 2023 budgetary plan to help Private Sector Participant (PSP) operators to recapitalise in the state.
By the plan, the state government will inject new waste evacuation trucks into their fleet.
The Managing Director/CEO of the Lagos Waste Management Authority (LAWMA), Mr Ibrahim Odumboni, announced the governor’s approval through a statement on Thursday in Lagos.
Odumboni said the state government would also empower recyclers to procure necessary tools for their operation.
He said that the recapitalisation was aimed at improving waste management and making the environment cleaner and livable in the state,
It would enable residents to cope with 13,000 metric tonnes of waste generation daily.
LAWMA’s boss explained further that the recapitalisation would help to address most of the challenges facing PSP operators.
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Such challenges include the high cost of new waste evacuation trucks, which many of the PSP operators could not afford.
“The Lagos State Government’s plan is to provide the PSP operators with low-interest loans to purchase new trucks.
“The government will also provide technical assistance to the operators to manage their fleet more efficiently.
“It will also stimulate economic growth by providing opportunities for small businesses to thrive.
“By providing the PSP operators with low-interest loans, we are giving them the opportunity to expand their businesses and create more jobs,” Odumboni said.
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