Cost-Benefit Analysis of Plastic Waste Mitigation Strategies in Ughelli, Delta State, Nigeria.

Abstract:

Global plastics waste is an issue of ever-increasing urgency. Marine plastic pollution is a particularly challenging issue, as plastics take decades to break down, and do so into micro- and nanoparticles that affect marine ecosystems and the food web. The plastics pollution problem is magnified in developing countries where rising production and consumption coexist with underdeveloped waste treatment systems and large volumes of imported plastic waste. Plastic waste management has become a critical environmental and public health challenge in many developing countries and cities, including Ughelli in Delta State, Nigeria. This study presents a comprehensive cost-benefit analysis of four key plastic waste mitigation strategies namely, a household waste segregation program,, a plastic waste collection and recycling system, public awareness campaigns, and a deposit-refund scheme for plastic bottles and containers for implementation in Ughelli. Using a 0.5-year project timeframe and a 10% discount rate, the net present value (NPV) and cost-benefit ratios were calculated for each strategy. The results indicate that the plastic waste collection and recycling system had the highest NPV of ₦112,500,000 and a cost-benefit ratio of 1.50, suggesting it is the most financially viable option. The household waste segregation program had an NPV of ₦80,000,000 and a cost-benefit ratio of 1.35, also demonstrating strong economic feasibility. The public awareness campaigns and deposit-refund scheme had lower but still positive NPV values of ₦52,500,000 and ₦25,000,000 respectively, with cost-benefit ratios of 1.28 and 1.08. These findings provide valuable insights to policymakers and waste management authorities in Ughelli on prioritizing investments in sustainable plastic waste mitigation based on financial and economic considerations. It recommends greater external financial and technical support for waste treatment, stakeholder consensus and awareness-building, regulatory policies that reduce the price and convenience differentials between plastics and substitute materials, and a push towards enforcement of environmental regulations. Keywords: Plastics, Waste, Mitigation Strategies. Cost-Benefit Ratio, Ughelli, Plastics, waste, environment, manufacturing, pollution, biodegradable plastics, plastic substitutes,