Tokunbo Wahab – Tech | Business | Economy https://techeconomy.ng Tech | Business | Economy Tue, 27 Jan 2026 08:44:31 +0000 en-GB hourly 1 https://wordpress.org/?v=7.0 https://techeconomy.ng/wp-content/uploads/2025/06/cropped-256Px-32x32.png Tokunbo Wahab – Tech | Business | Economy https://techeconomy.ng 32 32 BREAKING: Lagos Govt, MTN Unveil Y’ELLO Bus Park to Reclaim Obalende Under-Bridge https://techeconomy.ng/lagos-govt-mtn-unveil-yello-bus-park-to-reclaim-obalende-under-bridge/ https://techeconomy.ng/lagos-govt-mtn-unveil-yello-bus-park-to-reclaim-obalende-under-bridge/#comments Tue, 27 Jan 2026 08:43:08 +0000 https://techeconomy.ng/?p=175031 The Lagos State Government has announced a partnership with MTN Nigeria to redevelop the Obalende under-bridge into a modern and well-structured transport hub, to be known as the Y’ELLO Bus Park.

Obalende Y’ELLO Bus Park
PHOTO CREDIT: X/Tokunbo Wahab

The initiative is aimed at reclaiming and transforming a previously degraded and unsafe public space into a functional, secure and community-centred facility that will better serve commuters and residents within the Obalende axis.

Announcing the project, Mr. Tokunbo Wahab, commissioner for the Environment and Water Resources, Lagos State, said the redevelopment reflects the State’s commitment to improving urban infrastructure, safety and environmental sustainability.

“This redevelopment will convert what was once a notorious and degraded space into a functional, secure and community-centred facility,” Mr. Wahab disclosed on Tuesday morning. “The Y’ELLO Bus Park will feature an organised and regulated transport terminal, a recycling drop-off station, a road camp for LAWMA sweepers and security agencies, over 60 public toilet fixtures, kiosks, and other essential amenities designed to serve Lagosians.”

Obalende Y’ELLO Bus Park by Lagos State and MTN Nigeria
PHOTO CREDIT: X/Tokunbo Wahab

According to the official, the design of the bus park places strong emphasis on safety, health and aesthetics. Solar-powered lighting will be installed to improve night-time visibility, reduce blind spots and enhance the effectiveness of CCTV surveillance, helping to curb criminal activities and strengthen overall security in the area.

A biodigester system is also being introduced to sustainably manage wastewater generated within the park, while a dedicated recycling station will discourage illegal waste disposal and promote responsible waste management practices.

“In line with our commitment to climate responsibility, the project includes the installation of solar panels to support long-term energy efficiency and reduce carbon footprint,” the official added. “Tree planting is also planned to improve air quality and enhance the visual appeal of the environment.”

The Lagos State Government noted that the project underscores its broader resolve to reclaim public spaces across the state and reposition them as safe, functional and sustainable assets that support economic activity and urban mobility.

Obalende Y’ELLO Bus Park by Lagos State and MTN Nigeria
PHOTO CREDIT: X/Tokunbo Wahab

“This project reflects our determination to make Lagos cleaner, safer and more resilient, while ensuring that public infrastructure works for the people in a modern and responsible way,” the official said.

The Y’ELLO Bus Park redevelopment is part of Lagos State’s ongoing efforts to improve transport infrastructure, environmental management and quality of life for residents.

At the time of filing this report, MTN had not yet issued an official statement on the public-private partnership project.

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LASG to Enforce Total Ban on Styrofoam, Plastic January 2025 https://techeconomy.ng/lasg-to-enforce-total-ban-on-styrofoam-plastic-january-2025/ https://techeconomy.ng/lasg-to-enforce-total-ban-on-styrofoam-plastic-january-2025/#comments Fri, 04 Oct 2024 08:54:24 +0000 https://techeconomy.ng/?p=144626 The Lagos State Government has announced that it will fully enforce the ban on Styrofoam food containers and single-use plastics (SUPs) by January 2025.

The moratorium on SUPs, extended until the end of 2024, will soon expire, paving the way for full implementation.

This decision aims to mitigate the harmful effects of plastic waste on both the environment and public health.

The announcement was made by Tokunbo Wahab, the Commissioner for the Environment and Water Resources, who was represented by the Special Adviser for Environment, Engr. Kunle Rotimi-Akodu, during a one-day stakeholders’ workshop on the ban held at the MAN Centre in Ikeja.

A statement from Kunle Adeshina, Director of Public Affairs for the Ministry of Environment and Water Resources, confirmed this on Thursday, October 3, 2024.

“While the implementation of the ban on Styrofoam commenced on the 12th of February, 2024 upon the expiration of a three weeks moratorium, the State announced a six- months moratorium period for SUPs which was later magnanimously extended till end of the year 2024 upon Stakeholders appeal to give room for more consultation while the ban on SUPs be effective by January 2025” he said.

Wahab highlighted the ban’s crucial role in tackling plastic pollution in Lagos, noting that plastic waste clogs waterways, harms air quality, and poses health risks.

He stressed that Styrofoam and single-use plastics take centuries to degrade, making the ban essential for environmental protection.

It was also noted that the Lagos State government is working closely with private sector organizations to provide alternatives for Styrofoam containers and other SUPs, while supporting research into new technological solutions.

Wahab recognized that although the transition may be challenging, the state government is prepared to fulfill its responsibilities under the Lagos State Plastic Policy by creating a supportive environment for its implementation.

The statement noted that during the one-day workshop, Gaji Omobolaji Tajudeen, Permanent Secretary of the Office of Environmental Services, emphasized that plastic waste management is one of Lagos State’s biggest challenges.

He highlighted how the ban on Styrofoam and single-use plastics has significantly reduced waste in drainage systems and waterways across Lagos
Tajudeen stressed the importance of engaging stakeholders to find practical solutions and reassured businesses that the government would not take actions harmful to their progress.

However, he reaffirmed the government’s commitment to maintaining a clean environment.

Meanwhile, Professor Funminiyi Adeleke, the guest lecturer and former Dean of Law at Lagos State University, emphasized that while the ban is essential, its economic implications cannot be overlooked.

He called for increased awareness and the development of strategies to mitigate the impact on businesses and consumers

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Dutch Govt. Backs Lagos State Waste-Energy Project with €120m https://techeconomy.ng/dutch-govt-backs-lagos-state-waste-energy-project-with-e120m/ https://techeconomy.ng/dutch-govt-backs-lagos-state-waste-energy-project-with-e120m/#respond Wed, 02 Oct 2024 12:58:24 +0000 https://techeconomy.ng/?p=144435 The Lagos State Government has revealed a €120 million commitment from the Netherlands government to back its ongoing waste-to-energy project with the Harvest Waste Consortium, a Dutch company.

This was disclosed by Tokunbo Wahab, the Lagos State Commissioner for Environment and Water Resources, where he provided updates on various partnerships the Lagos State Government has established with foreign private sector entities in waste management.

Wahab explained that the project, aimed at converting a portion of Lagos’ waste into electricity, will be implemented at the decommissioned Epe landfill, with Harvest Waste processing 2,500 to 3,000 tons daily from the 13,000 to 14,000 tons of waste generated in Lagos.

He further noted that the company only requires an assurance of this waste supply to generate power, a feasible goal given the city’s daily waste generation figures.

“The waste-to-energy project with the Dutch company Harvest Waste is backed by the Dutch government to the tune of about €120 million, and we have designated the decommissioned Epe landfill for this purpose,” the statement read in part.

His words: “We are going to guarantee them 2,500 to 3,000 tons of waste daily from the 13,000 to 14,000 tons generated in Lagos.”

He further disclosed that Harvest Waste has completed the feasibility studies for the project and has assured the Lagos State Government of its full commitment to making the venture a success Landfill decommissioning and progress on other waste management partnerships in Lagos.

He further disclosed that the Lagos State Government is actively decommissioning several landfills to make space for new waste management projects with foreign private companies, including the Jospong Group and Closing the Loop.

The Jospong Group, an Accra-based waste-to-wealth company, is focused on processing waste collected by PSP operators into valuable products like compost fertilizers and recycled plastic bins. He mentioned that all meetings have been held, and the numbers are promising.

The equipment has been commissioned, and operations are expected to begin in six to seven months. The company has already set up an office in Alausa, Lagos, employing Nigerians to manage operations.

The commissioner also highlighted the partnership with Closing the Loop, a Dutch company, which will manage electronic waste in Lagos.

Wahab revealed that Closing the Loop plans to establish a local facility to process electronic waste, reducing the need for exportation and repurposing materials within the state.

He noted that major dumpsites, such as Olusosun and Solous 1, 2, and 3, are in advanced stages of decommissioning, with new landfills being provided to support these projects.

Once these partnerships are fully operational, the government expects only 3% to 4% of the waste generated in Lagos to end up in landfills, in line with the state’s goal of turning waste into valuable resources and promoting sustainability

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Ile-Epo | Oyingbo | Ladipo | Alaba International – Sealing Off Markets in Lagos from a Financial Analytical Perspective https://techeconomy.ng/ile-epo-oyigbo-ladipo-alaba-international-sealing-off-markets-in-lagos-from-a-financial-analytical-perspective/ https://techeconomy.ng/ile-epo-oyigbo-ladipo-alaba-international-sealing-off-markets-in-lagos-from-a-financial-analytical-perspective/#comments Mon, 23 Oct 2023 14:43:33 +0000 https://techeconomy.ng/?p=116460 The Lagos State Government has come hard on large marketplaces in recent times and for justifiable reasons.

The latest is Alaba International Market, Ojo, Lagos. Tokunbo Wahab, the Commissioner for the Environment and Water Resources, Lagos State, has said on different occasions that these markets are sealed to poor waste disposal practices, failure to pay waste bills, and gross environmental sanitation offenses.

This same issue is encountered by the Trade Fair International Complex, located at Lagos-Badagry expressway, Ojo, with ASPAMDA and other complexes located within, sealed as we speak. 

It is worthy of note that the Lagos State Waste Management Authority (LAWMA) also recently reopened some other markets including Ladipo, Oyingbo, Alamutu Ologede and Ile-Epo markets, which were sealed at different times for similar violations and non-compliance with environmental laws.

However, the impact of this action, especially as regards Alaba International Market, being the largest electronics market in West Africa, has sent shockwaves through the local economy, prompting a closer examination of the financial implications from a rigorous analytical standpoint.

Ile-Epo | Oyigbo | Ladipo | Alaba International – Sealing Off Markets in Lagos from a Financial Analytical Perspective
Alaba International Market – Source: Tokunbo Wahab/X

Market Overview

Alaba International Market stands as the largest electronics market in Nigeria, located in Ojo, Lagos State. With a wide range of electronic products and services including appliance repair, the market has become a hub for both local and international business. Its daily turnover of approximately $4 billion reflects its substantial economic contribution.

Immediate Impact

The closure of Alaba International Market, even for a day, has significant consequences. With around 10,000 merchants conducting their business within its premises, the financial losses incurred during the shutdown are substantial. Daily transactions, investments, and profits all experience a sudden halt, impacting not only individual businesses but also the overall economic landscape.

Financial Strain on Merchants

For the market’s large number of merchants, the sudden closure represents a severe financial strain. These entrepreneurs are left to deal with income loss, inventory devaluation, and operational disruptions. Their ability to meet financial obligations, pay employees, and sustain their businesses is severely compromised.

Ile-Epo | Oyigbo | Ladipo | Alaba International – Sealing Off Markets in Lagos from a Financial Analytical Perspective
Source: Tokunbo Wahab/X

Wider Economic Implications

Beyond the immediate market community, the closure reverberates across Lagos State and the larger Nigerian economy. Suppliers, transporters, and service providers linked to Alaba International Market face interruptions in their revenue streams. Additionally, the market’s closure disrupts tax revenue, impacting government funds earmarked for essential services and infrastructure development.

Addressing the Challenges

To mitigate the economic fallout, swift action and support mechanisms are necessary. The government, in collaboration with market stakeholders, must explore avenues for rapid resolution. Implementing sustainable waste management practices, facilitating payment solutions for outstanding bills, and ensuring adherence to environmental regulations can pave the way for the market’s reopening.

Moving Forward

The temporary closure of Alaba International Market emphasizes the need for proactive measures to maintain a thriving business environment. Enhanced collaboration between market authorities, merchants, and the government is essential.

This incident is a reminder of the delicate balance between economic growth and environmental responsibility, emphasizing the importance of sustainable practices for businesses and communities alike.

As Lagos State looks towards solving the challenges posed by the closure, a concerted effort from all stakeholders will be great in restoring the vibrancy of Alaba International Market and safeguarding the financial stability of its merchants and the broader economy.

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