FREEE Recycle Limited, a tyre recycling and rubber manufacturing company, has revealed that the annual value of tyre imports into Nigeria amounts to over N108 billion. The company is advocating for the adoption of a circular economy to unlock the potential of the tyre waste recycling sector. Globally, the need for alternative and renewable energy sources has heightened discussions about the circular economy. Environmental experts and industry stakeholders are promoting the transformation of waste into valuable resources to enhance sustainability and cleaner production across various sectors.
During a media briefing in Lagos, Ifedolapo Runsewe, Managing Director of FREEE Recycle Limited, emphasized the need to close the loop in the circular economy by fully utilizing the opportunities within Nigeria’s tyre waste recycling industry. She noted that although tyre importation in Nigeria represents a significant market, the contribution of the recycling sector to the nation’s GDP remains minimal. Despite the large scale of tyre imports, the tyre recycling sector has added only 0.32% to GDP growth. Runsewe highlighted the sector’s potential to drive Nigeria into the global market economy, noting that FREEE Recycle has already processed over 350,000 waste tyres into commercially viable products. The company aims to expand further, with a target of recycling two million tyres annually.
Runsewe urged manufacturers to explore the recycling sector’s potential, stressing the importance of advancing Nigeria’s environmental sustainability through innovative recycling methods. She added that FREEE Recycle operates an integrated facility that turns scrap tyres into reusable products for both residential and commercial applications. Since its launch in 2020, FREEE Recycle has grown into a commercially successful enterprise, demonstrating that tyre waste can be repurposed to produce high-quality goods, reducing environmental pollution and supporting sustainable economic growth.
The company operates a state-of-the-art facility in Ibadan, Oyo State, which produces rubber mats, tiles, and crumb rubber. The facility’s initiatives have not only reduced CO2 emissions but have also contributed to public health by mitigating malaria-related fatalities.
Get the latest supply chain logistics news updates at The Supply Chain Report. Visit ADAMftd.com for free tools related to international trade.
#SustainabilityInLogistics #CircularEconomy #RecyclingInnovation #NigeriaEconomy #GreenSupplyChains
