Indigenous firm to expand economic opportunities in Nigeria’s plastic recycling ecosystem

…Set to commission new plant

A wholly indigenous Nigerian enterprise, Polysmart Packaging Limited says it is committed to providing a solution to the menace of plastic waste and creating economic opportunities for Nigerian citizens across the country.

According to the company, the commissioning of phase one of its recycling plant is a strategic move to expand its operations and tap into the growing economic opportunities in Nigeria’s plastic recycling industry.

Speaking after the tour of the company’s facility along the Lagos-Ibadan Expressway by a Federal Government delegation ahead of the commissioning on Thursday, Wasiu Balogun, Group Managing Director of the company, said plans are in place to spend about N60 billion annually purchasing recyclable waste and create wealth in the recycling ecosystem.

According to Balogun, the company would require at least N5 billion monthly to purchase recyclable materials from its collection network, adding that the investment would support waste collectors, agents and small businesses across the country.

He said through the plant operation, the company will not only be recycling plastic; it will be restoring dignity to Nigeria’s environment and creating opportunity for her citizens

“With the new expansion, we need to employ a minimum of 2,000 agents. Apart from the environmental impact, the economic impact is huge,” he said.

The group managing director further said that plans are on to establish an additional 250 branches within the next 24 months as part of a long-term ambition to extend its collection network to all 774 local government areas.

Balogun said the company’s digital platform connects households with nearby agents and collection branches, while facilitating transactions and payments.

“We discourage cash payments. As the price changes, you see the price. When they get to you and they collect your products, money leaves their account and hits your account,” he said.

Commenting on their findings during the tour, Omotunde Adeola, Director of Pollution Control and Environmental Health from the Federal Ministry of Environment, said the visit was to assess the facility’s readiness for commissioning and evaluate progress on the expansion.

Adeola said the investment is an important contribution to tackle plastic pollution, develop local recycling capacity and create employment, particularly for young people.

She noted that the facility would strengthen local production of recycled polyethene terephthalate (rPET), a material used in manufacturing packaging products, and encourage more industries to incorporate recycled plastics into their operations.

According to her, the facility would extend employment opportunities beyond the factory to people involved in collecting and transporting discarded plastic bottles.

The director added that facilities such as this demonstrate Nigeria’s capacity to process plastic waste locally, while supporting environmental compliance, local industrial development and potential expansion into other West African markets.

On the long-term benefit of such a facility to the Nigerian environment, Balogun said the expansion was driven by the need to prevent recyclable materials from becoming environmental hazards while converting them into valuable industrial raw materials.

He also identified regulations on recycled content and Extended Producer Responsibility (EPR) as important drivers of investment, adding that requirements for manufacturers to incorporate recycled materials into packaging could sustain demand and encourage further investment.