As the global waste-to-energy (WtE) market gears up for rapid growth—expected to hit $50.92 billion by 2032—Dr. Femi Oye, CEO of SMEFUNDS, is urging a strategic pivot toward agriculture. Traditionally dominated by urban centers and industrial zones, he believes the next phase of WtE expansion should focus on turning agricultural residues into energy, supporting rural food systems and local economies.
Reacting to market forecasts predicting a 4.5 per cent compound annual growth rate for the sector, Oye said successes in urban waste conversion must now be replicated in farming communities.
“The global energy transition offers a unique opportunity to transform agriculture from a power-constrained, resource-intensive sector into a self-sustaining engine for economic growth,” he said. “By deploying advanced thermal and biochemical conversion technologies near farms, countries can simultaneously tackle energy poverty and food insecurity.”
Oye noted that unreliable electricity remains the biggest obstacle to agricultural productivity in emerging markets. Without steady power, farmers struggle to invest in cold storage, irrigation, or food processing, leading to high post-harvest losses. He called on governments and private investors to accelerate deployment of “Agri-Grid” systems—distributed energy projects that convert farm residues like stalks, husks, and organic trimmings into reliable, baseload electricity for rural communities.
“Waste is no longer a burden; it’s a misplaced resource,” Oye said. “To achieve the multi-billion-dollar market projected for 2032, we must go beyond simple incineration and focus on rural areas where agricultural waste is abundant. Modular, twin-reactor technologies in these communities can transform fields into power hubs for local food systems.”
According to Oye, integrating WtE solutions into agriculture fosters a localized circular economy, keeping capital within rural communities. Farmers can generate power on-site, bypassing centralized grids that rarely reach remote areas, and laying the foundation for rural industrialisation.
SMEFUNDS, he added, is prepared to support public and private initiatives to deploy small-scale WtE systems within farming clusters. Pilot projects are already converting corn stalks, rice husks, and cocoa shells into electricity for milling, drying, and cold storage operations. Complementary solar equipment can also power irrigation and food-processing machinery, while biochar byproducts enhance soil fertility and boost crop yields.
“Reliable electricity for refrigeration ensures that perishable produce reaches urban markets without spoilage,” Oye explained. “This is how rural towns begin to industrialize. Small-scale farmers can become agri-preneurs, offering milling, drying, and packaging services locally rather than selling raw produce at low margins.”
Beyond energy, the model generates new revenue streams through bio-fertilizers, carbon credits, and sustainability grants linked to landfill diversion and renewable energy targets. Oye argued that these incentives strengthen the financial case for agricultural WtE, making rural deployment economically viable.
“To meet the projected market value by 2032, we must embrace chemical recycling and high-value recovery. Turning agricultural waste into energy assets empowers rural communities to drive their own development,” he concluded. “We are taking the ‘trash-to-treasure’ narrative from the lab to the farm, proving that sustainability and profitability can flow from the same pipeline.”
