• Target further $200m investment
A group of German firms has sealed a €40 million investment to deliver advanced waste treatment infrastructure to Lagos State to prevent over 1.5 million tonnes of CO2 emissions yearly for the next 15 years.
The project was signed between Zoomilion Nigeria Limited, FIMA Industries Germany, FAUN Kirchhoff Gruppe, and Jospong Group of Companies for the export contract for the supply of three waste treatment plants and waste collecting trucks from Germany.
The investment deal signed yesterday in Lagos at the 11th German-Nigerian Business Forum with the theme: “Building Effective Partnership for Successful Business Development,” is facilitated by the German government through its export credit insurance company with the support and approval of the Lagos State government.
The Executive Director, Jospong Group of Companies, Haidar Said, said the project, which includes the procurement of three solid waste recycling plants and a fleet of waste collection trucks from Germany, marked a significant step in the state’s waste management strategy
He said the investment is poised to address Lagos’ growing waste management challenges by improving the state’s recycling capabilities and is expected to prevent over 1.5 million tonnes of CO2 emissions yearly, underscoring the group’s commitment to sustainable environmental practices.
Said revealed that over the next 12 to 24 months, the Jospong Group plans to invest over $200 million in Lagos State’s waste management sector, noting that the expansion will cover all aspects of the waste management cycle, from supporting waste collectors to establishing transfer stations, recycling plants, and engineered landfill management.
“With Lagos State battling mounting waste disposal issues, the initiative represents a significant boost to the state’s infrastructure and environmental sustainability. The partnership with Germany, supported by the Lagos State government, is a key step toward achieving cleaner, greener urban development in one of Africa’s largest cities,” he stated.
The Chief Executive Officer, FIMA Industries Germany, Markus Maierhofer, said under the contract, his company will deliver over €30 million worth of mechanical and biological waste treatment plants, which are designed to process waste efficiently while reducing environmental impact.
He said in addition, around €10 million will be invested in waste collection vehicles, further enhancing Lagos’ waste management logistics.
Maierhofer said the waste treatment plants will help Lagos significantly reduce the amount of waste sent to landfills, promoting recycling and the production of environmentally friendly materials like compost.
He said this approach aligns with global trends toward a circular economy, where waste is seen as a resource rather than a burden.
“We are not just treating waste; we are creating jobs and opportunities for local communities. This contract will inject new life into Lagos’ waste management sector, generating employment and supporting the state’s broader economic development,” he said.
The Head of Export Business Development, FAUN Kirchhoff Group, Lucas Dörr, said the deal, focused on waste recycling and logistics in Lagos State, is expected to revolutionise the circular economy in the region.
Dörr said the contract extends over 15 years and encompasses both the recycling and waste collection sectors.
According to Dörr, the collaboration is backed by an export credit arrangement, which will span seven years, adding that the company’s cutting-edge technology in waste compactors will be pivotal in optimising Lagos’ waste management system, ensuring more efficient collection, recycling, and overall waste logistics.
The Governor of Lagos State, Babajide Sanwo-Olu, highlighted the state’s long-standing partnership with German government and its continued commitment to fostering relationships that benefit the state’s economy and environment.
Sanwo-Olu, who was represented by Special Adviser on Climate Change and Circular Economy, Titilayo Oshodi, emphasised the importance of these partnerships in achieving the state’s climate change goals, while also supporting job creation and economic empowerment.
He noted that the collaboration has led to the development of new markets and technical support for enterprises involved in waste management and material recovery.
Sanwo-Olu highlighted the collaboration between the German-Nigerian Chamber of Commerce and the German government as key to the success of these initiatives.
