NADDC Forecasts N150bn Annual Revenue from Vehicle Recycling in Nigeria

The NADDC Director General, Joseph Osanipin, forecasts that Nigeria's vehicle recycling market will generate N150bn annually. The initiative aims to implement an end-of-life vehicle program to formalize the recycling process.

This move is expected to address environmental and safety concerns while creating economic opportunities in the country. Osanipin highlights the potential for revenue generation and job creation in the recycling ecosystem, emphasizing the importance of sustainable practices in the automotive industry.

Nigeria's thriving second-hand auto parts market is also recognized as a key component in building a formal circular economy.