A substantial part of the urban residents in the city and suburban informal settlements of Lagos metropolis also have little or no access to solid waste collection services. This is due to lack of proper land use planning which resulted in the creation of informal settlements with narrow streets that make it difficult for collection trucks to reach many areas.
The result is that a large portion of the population is left without access to solid waste management making them particularly vulnerable.
Some of the waste generated includes paper, glass and plastic and with the use of technology, these products can be transformed into useful products again.
Foraminifera Market Research seeks to expose the investment opportunity in the trading of waste polythene materials to plastic recycling plants.
Recycling is an economic development tool as well as an environmental tool. Reuse, recycling, and waste reduction offer direct development opportunities for communities. When collected with skill and care, and upgraded with quality in mind, discarded materials are a local resource that can contribute to local revenue, job creation, business expansion, and the local economic base.
The raw materials are never in short supply as Lagos is known for its huge generation of waste. From figures available from LAWMA, 9,000 metric tons of waste is generated daily with about 1,200 metric tons being converted into other uses. This creates room for the establishment of recycling plants in Lagos and indeed other states of the federation.
The investor can start the business through the following ways
Collection Center Operator
As a supplier/ collector, the investor collect waste polythene materials from different sources and supplies to the collection center operator who processes the material and sell to the recycler.
The return on investment on the trading of waste polythene material is estimated between 10%- 15%.