Empowering Small and Medium Enterprises: Why Stakeholders Urgently Need Their Involvement in Climate Action

As climate change poses risks to both the economy and the environment in Nigeria, urgent action is required to incorporate Small and Medium Enterprises (SMEs) into the nation’s green agenda. This was the consensus at the first Lagos Green Economy Forum, where environmental leaders and business experts gathered to discuss the importance of SMEs in combating climate change.

Tokunbo Wahab, Lagos State’s Commissioner for the Environment, highlighted that SMEs are essential for a sustainable economy. He stated that with over 41 million small businesses in Nigeria, it’s vital to include them in discussions on climate policies. His representative, Dr. Tunde Ajayi, reinforced this point, noting that SMEs contribute significantly to the local economy. He pointed out, “If we don’t involve them in the green transition, we risk missing out on a key economic player.”

The Lagos government is actively working to tackle plastic waste by collaborating with manufacturers and recyclers. Major companies like Coca-Cola and 7-Up are investing in recycling, helping to clear clogged drainage systems and reduce flooding. Ajayi also mentioned the positive economic effects of this policy, with increased demand for paper products due to the plastic ban.

Sola Obadimu from the Nigerian Association of Chambers of Commerce called for more investment in renewable energy, asserting that sustainability is not just an obligation but an economic opportunity. He emphasized that Lagos, contributing to over 40% of Nigeria’s GDP, needs to prioritize sustainability in its financial planning and investments.

Korede Oluwole, the forum’s organizer, expressed a commitment to bridging the gap between SMEs and sustainability discussions. He introduced GreenTrack, a mobile app created to help SMEs manage energy use, waste, and water resources. This app aims to guide small businesses in their sustainability journey.

At the forum, an all-female panel discussed the role of large corporations in promoting sustainable practices. Temilade Olabanji from MTN Nigeria spoke about their initiative, Project Zero, which aims for net-zero emissions by 2040. She emphasized that MTN isn’t just reporting its progress but actively working to build resilience among its suppliers.

IHS Towers is also investing in sustainable practices through its Project Green, aiming to power over 16,000 tower sites with renewable energy. Similarly, TechnoServe is collaborating with local vendors to implement eco-friendly practices.

While the forum saw participation from only one SME representative group, the organizers plan to engage more extensively with stakeholders to ensure broader participation in future discussions.

Overall, as Nigeria seeks to embark on a greener path, integrating SMEs into the sustainability conversation is crucial. These small businesses are crucial for innovative solutions, cost reduction, and resilience building. Embracing this change can transform not only their futures but also the entire economy’s outlook on sustainability.



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