Wednesday 29 May 2013

WASTE RECYCLING: Investment Opportunity in Nigeria




INTRODUCTION:

Recycling is an economic development tool as well as an environmental tool. With the quantity of materials are thrown away each day, it is important to ensure that the recyclable materials are not going to the landfill but to the recycling centers.

Recycling create reduction and offer direct development opportunities for communities when collected with skill and care, and upgraded with quality in mind. Discarded materials are local resource that can contribute to local revenue, job creation, business expansion and the local economic base.

The raw materials are never in short supply as Lagos (and other commercial cities in Nigeria) is known for its huge generation of waste. From figures available from LAWMA, 9,000 metric tones of waste is generated daily with about 1,200 metric tones being converted into other uses. This creates room for the establishment of recycling plants in Lagos and indeed other states of the federation.

In an article published by “Daily times Newspaper” revealed an example of a recycling company in Nigeria that made over $61 million from exporting recycled metallic waste.
The Nigerian company, the “Sun and Sand” Industries Ltd says 95% of raw materials are sourced from metallic wastes that are recycled for export to manufacture cars and ship parts. Sheweta Satija Managing Director, Sun and Sand Industries disclosed:
Satija said that since 2005, the company had been recycling metallic waste from Nigeria for export to high
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