The United Nations Industrial Development Organisation (UNIDO), is collaborating with the Japanese government, European Union (EU), and African Development Bank (AfDB) to implement waste to wealth project.

The Regional Director of UNIDO Nigeria, Mr. Jean Bakole, said this in an interview with the media in Abuja on Monday.

Bakole said that the project would last for three years and that the collaboration would support the execution of the project.

According to him, the essence of collaboration is to ensure that the project is executed effectively within the time frame.

He said that UNIDO was also partnering with the Ministry of Environment, as the essence of the project was to see how the organization could turn pollution materials into an initiative.

“The process will help to recycle plastic from value chains of solid and plastic waste of old materials into new materials, thereby, turning waste into wealth.

“The three years project by UNIDO is going to be beneficial in Nigeria, as it will promote economic development and job creation,’’ he said.

Bakole said the organizations were trying to reduce the effects of the bad materials to reevaluate them into new products with the help of new technologies used in recycling industries.

The regional director said that the organizations were working on adding value to the ecosystem and seeking ways to get talented youths into the field.

He stressed that the aim was to offer the youth ideas, opportunities, training, and financial aid in the recycling process.

“Going into the processes will bring job opportunities, help in start-up and evaluate ideas of how the materials can be recycled and utilized efficiently.

“The circular economy forms a linear economy approach which will have its methodology to domesticate in Nigeria and benefit not only in Nigeria but other countries.

“This is to reduce the negative impact of waste, particularly solid waste, e-waste, and domestic waste,’’ he said.

According to Bakole, the effort will help to know how to go through the plastic value chain in order to transform used products into new products which can assist the local and national economy.