NBC Invests N120m in Community Recycling Banks Project

Oluchi Chibuzor 

The Nigerian Bottling Company (NBC) has revealed it has invested about N120m for 10 community recycling banks located in different locations in Lagos and Abuja respectively.

Speaking in Lagos, Corporate Affairs and Sustainability Director, Nigerian Bottling Company (NBC), Oluwasoromidayo George said post-consumer packaging collection in line with their global commitment. 

According to her, “We are commissioning 10 newly-minted community recycling banks with 5 each in Lagos and Abuja. As an alliance, FBRA has made significant financial investments of over 2 billion naira that have enhanced the recovery of over 44 million kilograms of rigid plastics from the environment. 

“These recovered plastics indicate the injection of over 10 billion naira into the plastic recycling value chain through recycler’s offtake value, therefore stimulating the recycling industry and creating the foundation for foreign investments.”

She noted that with this community-led approach they will support and catalyse the development of waste management infrastructure within the nation. 

According to her, “In short we are sitting on a gold mine and must not miss the opportunity to use it to create a vibrant opportunity to enhance livelihoods. With these banks, we hope to further promote the habit of responsible consumption through source waste sorting, separation and collection for recycling by the general public.”

However, for the Packaging Recovery Unit, Nigerian Bottling Company,  Idris Adetola explained it was necessary for them to encourage the right recycling behaviour because it is key from an economic point of view.