Nigeria targets N100bn revenue from 800,000 tons of metals recycling

Nigeria aims to generate N100 billion in revenue from recycling 800,000 tons of metals, as revealed by NADDC's Oluwemimo Joseph Osanipin during a workshop in Kano. The initiative, supported by Minister of State for Industry Senator John Owan Enoh, is a significant step towards sustainable automotive waste management in the country.

The regulation will address waste disposal challenges, boost economic diversification, and reduce Nigeria's carbon footprint. The plan includes setting up a steering committee to guide the implementation process, involving government agencies, industry players, environmental experts, and local communities.

The adoption of modern ELV recycling technology, proposed by Fabtech Company in Abuja, will ensure efficient recycling and recovery of valuable materials, creating economic value. The regulation, modeled after Japanese and Dutch systems, will enhance Nigeria's recycling capacity and generate revenue through an automotive recycling fee based on the polluter pay principle.

This fee, collected at vehicle registration points, is expected to raise.