By Dickson Omobola

Jospong Group of Companies, JGC, through its subsidiary, Zoomlion Nigeria, has signed a €40 million export contract deal with FIMA Industries Germany and FAUN Umwelttechnik GmbH that will help Nigeria save 1.5 million tonnes of carbon dioxide, CO2, emissions yearly.

The agreement, ratified at the 11th German-Nigerian Business Forum themed: ‘Building Effective Partnership for Business Development’ in Lagos, would enable the supply of three waste treatment plants and waste collecting trucks to Lagos.

Addressing newsmen at the event, Executive Director at Jospong Group Of Companies, Haidar Said, said the investment was aimed at supporting the environment.

He said: “It would save more than 1.5 million tonnes of CO2 emissions every year. Following our success stories in Ghana in partnership with FIMA Industries and with the support of the German government, through their export credit insurance company, we have now come to Nigeria to launch our project with the support and approval of the Lagos State government. The deal that we signed today will result in the procurement of three waste recycling plants and some trucks.”

Also speaking, Head of Business Development Export at FAUN Umwelttechnik GmbH & Co. KG, Lucas Dörr, explained that the deal, spanning a seven-year period, would deepen Nigeria’s circular economy and recycling industry and waste logistics in Lagos State.

He said: “It’s an export credit contract for about seven years and the complete Lagos State contract is about 15 years for the recycling and the collection of the waste.

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On his part, Governor Babajide Sanwo-Olu of Lagos State said the collaboration would lead to the development of new markets and technical support for waste management and material recovery enterprises.

Sanwo-Olu, represented by Special Adviser on Climate Change and Circular Economy, Titilayo Oshodi, highlighted the collaboration between the German-Nigerian Chamber of Commerce and the German government as key to the success of these initiatives.

He said: “Lagos state’s long-standing partnership with the German government is a continued commitment to fostering relationships that benefit the state’s economy and environment.”

He expressed optimism that the partnerships would continue to expand supply chains and open up new financial opportunities for Lagos-based businesses.

He also stated the importance of these partnerships in achieving the state’s climate change goals while supporting job creation and economic empowerment.