Jospong Group of Companies (JGC), through its subsidiary Zoomlion Nigeria, has entered into a €40 million export contract with FIMA Industries Germany and FAUN Umwelttechnik GmbH. This partnership is expected to help Nigeria reduce carbon dioxide (CO2) emissions by 1.5 million tonnes annually.
The agreement was formalized during the 11th German-Nigerian Business Forum, themed ‘Building Effective Partnerships for Business Development,’ held in Lagos. The contract will facilitate the supply of three waste treatment plants and waste collection trucks to Lagos.
At the event, Haidar Said, Executive Director at Jospong Group of Companies, emphasized the environmental benefits of the investment, stating, “It would save more than 1.5 million tonnes of CO2 emissions every year. Following our success in Ghana in collaboration with FIMA Industries and the support of the German government through their export credit insurance company, we have now come to Nigeria to launch our project with the approval of the Lagos State government. The deal we signed today will lead to the procurement of three waste recycling plants and some trucks.”
Lucas Dörr, Head of Business Development Export at FAUN Umwelttechnik GmbH & Co. KG, elaborated on the deal’s significance, noting that it would enhance Nigeria’s circular economy and recycling industry, as well as improve waste logistics in Lagos State. “It’s an export credit contract for about seven years, and the complete Lagos State contract spans around 15 years for recycling and waste collection,” he explained.
Governor Babajide Sanwo-Olu of Lagos State, represented by Special Adviser on Climate Change and Circular Economy, Titilayo Oshodi, highlighted the initiative’s potential to create new markets and provide technical support for waste management and material recovery enterprises. He stated, “Lagos State’s long-standing partnership with the German government reflects our commitment to fostering relationships that benefit the state’s economy and environment.”
Sanwo-Olu expressed optimism about the partnership’s potential to expand supply chains and create new financial opportunities for businesses in Lagos. He also emphasized the importance of such collaborations in achieving the state’s climate change goals while supporting job creation and economic empowerment.