The Lagos State Government will tomorrow hold its first wastewater investment forum aimed at elevating the essential sector in structure, stature and sophistication. The one-day forum has “Wastewater Sectoral Policy, Unveiling the Investment Potentials’ as its theme.
The State Commissioner for Environment, Dr. Muiz Banire noted that the wastewater sector has been growing very fast over the past two years.
According to him, the management of the 1. 44 billion gallons of wastewater generated by over 18 million Lagos residents daily with the attendant health and environmental implications is not an easy task.
The Commissioner added that the complicated process of the removal of contaminants in the wastewater to produce useful end products that are safe for re-use or disposal requires a high level of infrastructure investment, explaining that the existing six per cent infrastructure in the state is like the proverbial drop of water in the ocean. He said the quantum of short and medium capital inflow needed to spontaneously respond to the 94 per cent deficit is not what the government alone can afford.
Banire said the wastewater challenges in the state present huge investment opportunities for shrewd businessmen and corporate organizations to partake and benefit from the rapidly developing sector.
The Commissioner who noted that the core investment in the sector is focused on aggressive infrastructure provision of at least two contemporary wastewater treatment plants every year for the next five years, stated that this is expected to culminate in the construction of 10 new wastewater treatment plants and the rehabilitation of three existing ones, thereby increasing the existing wastewater infrastructure from six per cent to 35 per cent.
“Opportunities also abound in complementary investment and services in the sector such as provision of packaged wastewater treatment plants for private development, rehabilitation of existing wastewater plants in the state, financing wastewater management projects, independent power production of energy and electricity from wastewater sludge.
Others include production of fertilizer from wastewater sludge, service providers for the manufacture of packaged wastewater treatment plants, procurement and installation of wastewater treatment plants and plant components, manufacture of mobile sewage conveniences, sale of mobile sewage conveniences, procurement of consumables in wastewater treatment process and more”, he said.
Dr. Banire further disclosed that the climax of the forum will be the request for expression of interest on all investment opportunities in the five-year policy. He called on the business community both local and international to participate fully at the one-day investment forum.