A consortium of German companies has committed to investing €40 million in advanced waste treatment infrastructure for the Lagos State government. This investment will prevent over 1.5 million tonnes of CO2 emissions annually for the next 15 years.
The investment agreement was signed on Monday during the 11th German-Nigerian Business Forum in Lagos, themed “Building Effective Partnership for Successful Business Development.” The German Government facilitated the deal through its export credit insurance company, with the support of the Lagos State Government.
The deal involves Zoomilion Nigeria Limited, FIMA Industries Germany, FAUN Kirchhoff Gruppe, and Jospong Group of Companies, which will supply three waste treatment plants and waste collection trucks from Germany.
Haidar Said, Executive Director of Jospong Group of Companies, described the project as a significant advancement in Lagos’ waste management strategy. He noted that the investment aims to tackle the city’s growing waste management challenges by enhancing recycling capabilities and significantly reducing CO2 emissions.
“Over the next 12 to 24 months, the Jospong Group plans to invest over $200 million in Lagos State’s waste management sector,” Said said, outlining plans to support waste collectors, establish transfer stations, and develop recycling plants and engineered landfill management.
Markus Maierhofer, CEO of FIMA Industries Germany, stated that his company would supply more than €30 million worth of mechanical and biological waste treatment plants. These facilities are designed to process waste efficiently while minimizing environmental impact. An additional €10 million will be allocated for waste collection vehicles, enhancing Lagos’ waste management logistics.
Maierhofer emphasized that these treatment plants will significantly reduce the volume of waste sent to landfills, promoting recycling and producing environmentally friendly materials like compost.
Lucas Dörr, Head of Export Business Development at FAUN Kirchhoff Group, highlighted that the deal focuses on waste recycling and logistics, aiming to revolutionize the circular economy in Lagos. The contract will extend over 15 years and includes recycling and waste collection components.
Lagos State Governor Babajide Sanwo-Olu underscored the state’s long-term partnership with the German government and its commitment to fostering relationships that benefit the economy and environment. Represented by Titilayo Oshodi, Special Adviser on Climate Change and Circular Economy, he stressed the importance of these partnerships in achieving climate goals while creating jobs and empowering the economy.
Sanwo-Olu credited the collaboration between the German-Nigerian Chamber of Commerce and the German government as pivotal to the success of these initiatives, which have led to new market developments and technical support for enterprises involved in waste management and material recovery.
