• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Sunday, August 31, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Unilever Seals $2m Partnership Agreement On Plastic Waste

by Kingsley Okoh
2 years ago
in Business
unilever
Share on WhatsAppShare on FacebookShare on XTelegram

Unilever Nigeria and Bridges Outcomes Partnerships have entered into a $2 million US partnership to help social enterprise Wecyclers expand plastic waste collection in the country.

Advertisement

This is as it expressed  concerns over the increasing plastic waste hyped by a surge in consumption of plastic beverages, foods, among others.

Besides, the United Nation Industrial Development Organisation (UNIDO) had stated that consumption of plastics in Nigeria jumped by 116.26 per cent within a period of 15 years to 1.25 million tonnes.

Addressing a press briefing to seal the deal and mark its centenary celebration, the partnership set up through an innovative ‘Development Impact Bond’ structured by French investment bank, Societe Generale, will allow Wecyclers to create hundreds of jobs to scale up operations that takes up plastics waste out of the environment to be used as raw materials for industries.

According to the managing director, Unilever Nigeria, Mr. Carl Cruz, Unilever Nigeria and Wecyclers have been working together since 2014 as part of Unilever’s ‘waste to wealth’ campaign, designed to help local organisations work out ways on how to create value and jobs from the reduction, collection, recycling, and reusing of plastic waste.

RELATED

GTCO Declares Pre-tax Profits Of N300.4bn In Q1

GTCO Crosses N500bn Capital Base With Fresh Fund Injection

20 hours ago
JUST-IN: Federal Gov’t Increases Mining Fees, Royalties To Be Paid Operators

Scholarship Beneficiaries Seek Minister’s Intervention Over Mining In Community

20 hours ago
ADVERTISEMENT

He stated that, under the partnership, seed funding from Unilever, UK Government and EY joint project called Transform helped Wecyclers expand their successful franchise and collection model.

He, however, stated that, as an entrepreneurial social enterprise, Wecyclers lacked access to the long-term funding needed to build on that progress and significantly scale up this model.

“The unique Development Impact Bond provides a solution to that challenge. It includes social, environmental, and financial targets, which will see Wecyclers collect more than 30,000 tonnes of plastic waste over the next five years, create over 700 jobs in recycling franchises across Nigeria, and improve the incomes of thousands of waste sorters.

ADVERTISEMENT

“This funding is a major step forward for us in our work to ensure plastics waste stays out of the Nigerian environment,” he said.

On his part, the managing director, Wecyclers, Mr. Wale Adebiyi, said Wecyclers started with one bicycle and a dream, and through hard work and entrepreneurship, it has built a scalable model courtesy of the Development Impact Bond that will create hundreds of jobs, and improve the income of thousands of sorters, expected to earn 25 per cent more than they do currently.

“All the partners involved hope this experience in Nigeria will inspire the further development and use of such Bonds globally to finance organisations tackling similar challenges,” he added.


Join Our WhatsApp Channel



SendShare10185Tweet6366Share
ADVERTISEMENT
Previous Post

Air Peace Begins Direct Flight To Israel

Next Post

Runners Throng Abuja Int’l Marathon Expo To Collect Kits

Kingsley Okoh

Kingsley Okoh

You May Like

GTCO Declares Pre-tax Profits Of N300.4bn In Q1
Business

GTCO Crosses N500bn Capital Base With Fresh Fund Injection

2025/08/30
JUST-IN: Federal Gov’t Increases Mining Fees, Royalties To Be Paid Operators
Business

Scholarship Beneficiaries Seek Minister’s Intervention Over Mining In Community

2025/08/30
Business

Budget Office Explains Delay In Budget Implementation Reports

2025/08/30
T2, Huawei Ink Multi-Million Dollar Deal For Core Network Overhaul
Business

T2, Huawei Ink Multi-Million Dollar Deal For Core Network Overhaul

2025/08/30
Maltina Rolls Out New PET Bottles
Business

Maltina Rolls Out New PET Bottles

2025/08/30
Abia Think Tank Calls For Govt Accountability, Inclusivity
Business

Abia Govt To Revive Moribund Industries In Aba

2025/08/30
Leadership Conference advertisement

LATEST

2027: We Must Close Ranks, Mobilise Support For Tinubu – Aiyedatiwa

UI VC Underscores Staying Connected With One’s Roots

We’re Raising Leaders Who’ll Rise Above Self-interests, Says Sanwo-Olu

LASG Backs WBFA’s School Hygiene Drive To Combat Infectious Diseases

MURIC Condemns Attacks On Oluwo

Red Cross Urges Sustained Search For Missing Persons

Kaduna Govt Dredges River Kaduna To Tackle Flood

North-East Governors Tackle Insecurity, Poverty At Jalingo Meeting

Varsity Lecturers Have Become Uber Drivers, Beggars – ASUU Chairman

Cleric Calls For Enlightenment On Child Spacing

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.