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Home Business News

Lagos signs MoUs with three investors to boost recycling of plastics and tyres 

Israel Ojoko by Israel Ojoko
November 9, 2025
in Business News
Lagos plans N500 entertainment tax, eyes N20 billion annual revenue 
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The Lagos State Government has signed three strategic Memoranda of Understanding (MoUs) with private investors to recycle plastic waste and end-of-life tyres, in a move to advance its waste-to-wealth agenda and promote sustainable environmental practices.

The agreements, announced during the 11th Lagos International Climate Change Summit, mark a significant step in the state’s transition from traditional linear waste management to a circular economy model.

The summit, which featured breakout and panel sessions with global experts, culminated in the signing of the MoUs aimed at reducing the volume of waste reaching landfill sites across the state.

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“The state over the weekend demonstrated its irrevocable commitment to advanced waste conversion,” said Director of Public Affairs, Mr. Kunle Adeshina, in a statement issued Sunday.

Commissioner for Environment and Water Resources, Mr. Tokunbo Wahab, emphasized the state’s determination to transform waste into economic value.

“We are moving away from the old ‘pick and dump’ model to a more sustainable system where waste becomes wealth,” Wahab stated. “These MoUs represent a new vista in our quest to reduce the quantum of waste in Lagos.” 

Three innovative waste conversion projects 

The first MoU, signed with HAK Waste Ltd., focuses on establishing a circular beverage container recycling and recovery system. The initiative will operate through a deposit refund mechanism anchored on the Extended Producer Responsibility Model (EPRM), which encourages manufacturers to take responsibility for the lifecycle of their products.

“This proposal reflects investor confidence in our EPRM policy and will help build a packaging circularity ecosystem,” Wahab added.

The second agreement, with Haggai Logistics Ltd., will lead to the creation of a fully automated tyre recycling facility—the first of its kind in Lagos. The plant will process end-of-life tyres using environmentally sound technologies, significantly reducing the environmental hazards posed by discarded rubber materials.

The third MoU, signed with Mondo 4 Africa, aims to convert non-recyclable plastic waste into sustainable fuel and other valuable resources using advanced, eco-friendly technologies.

Public engagement and financial strategy 

Wahab also stressed the importance of public participation in the success of these initiatives.

“We are trying to make people change the culture of seeing waste as waste, and instead see it as a resource,” he said. “This mindset shift is critical to achieving our goals.”

He noted that the government is simultaneously addressing financing mechanisms and the unique vulnerabilities of Lagos as a coastal city, which faces heightened environmental risks.

More insight 

Managing Director of the Lagos Waste Management Authority (LAWMA), Dr. Muyiwa Gbadegesin, echoed the need for private sector collaboration.

“The government and LAWMA alone cannot manage the daily volume of solid waste generated in Lagos,” Gbadegesin said. “We need strong partnerships to turn waste into wealth.” 

The investors expressed their appreciation and commitment to working with LASG to actualize the waste conversion projects. The signing ceremony was attended by key government officials, including Special Adviser on Environment Mr. Rotimi Akodu, Permanent Secretary of Environmental Services Dr. Omobolaji Gaji, and Permanent Secretary of Drainage Services Mr. Mahamood Adegbite.


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Israel Ojoko

Israel Ojoko

Israel Ojoko is a dynamic journalist renowned for his in-depth coverage and insightful analysis on a diverse range of topics. With a keen eye for detail and a passion for storytelling, Israel has penned impactful articles on the economy, political developments, fintech, and cybersecurity, among many others. His dedication to uncovering the multifaceted narratives has established him as a trusted voice and influential figure in contemporary journalism.

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