February 29, 2016

Circular Economy

RIDA National Plastics is the largest private sector waste plastics recycling and manufacturing company in Nigeria that single handily carries out Five Waste Plastics Processes ofi) Collection, ii) Sorting, iii) Processing, iv) Recycling and v) manufacturing waste plastics into finished plastic products such as furniture and essential household wares, providing affordable “better quality of life solutions” for millions of poor Nigerians. Our production is 100% reliant on waste plastic supply from landfills, dump sites supplied by over 2,000 Nigerians engaged in our waste to wealth circular economy supply chains

We currently recycle over 10,000 tons of waste plastic Polypropylene each year, that we remanufacture into new plastic products such as Basins, Buckets, Bowls that have enormous positive impacts on the lives of tens of millions of Nigerians for water storage, for storage, food preparations, cleaning/washing and multiple other uses that has been providing a better quality of life for hundreds of millions of Nigerians for over 3 decades. We have recycled over 283,000 tons of waste plastics in Nigeria to date and continue to do so daily. We produce 1,500,000 chairs and 6,000,000 basins each year out of 100% Waste Plastics.

Our current waste plastic recycling and manufacturing operation generates a ‘waste to wealth’ linear economic impact worth N5.25 billion naira per annum with a net Circular Economy worth N13.9 billion per year from, FX import savings from virgin raw materials imports, our linear economic impact. In the last 5 years alone, we have paid out over N15,000,00,000 (Fifteen Billion Naira) for waste plastic collections to the micro economic sector for the supply of 50,000 tons of waste plastic material. This is the exact type of national policy that President Buhari is trying to apply in Nigeria for poverty alleviation. 

We produce high quality plastic finished products (Basins, Buckets, Bowls, Chairs, Tables).  We sell these finished plastic products at proportional sales value that is 2/3 the price of virgin plastic raw material resin. This means we sell our finished plastic products cheaper in weight than the equivalent cost of the imported plastic raw materials (in weight), clearly demonstrating that we are providing plastic product pricing subsidies to the Nigerian population. 

Rida National Plastics has manufactured and sold over 50 million basins over time of various size heavy duty Plastic Basins that are life improvement basic products that have enormous positive impacts on the lives of tens of millions of Nigerians for water storage, for storage, food preparations, cleaning/washing and multiple other uses. We once again state that we sell our Finished Plastic Products housewares to the Nigerian population at subsidised selling prices 1/3 lower than the price of Virgin Plastic Raw Material resin cost.  

Having availed the Nigerian public with subsidised plastics homeware products for over 2 decades, over 100 million Nigerians have had a better quality of life with our heavily subsidised household plastic wares that are life improvement basic products giving enormous positive impacts on their lives for water storage, food storage, food preparations, cleaning/washing and multiple other uses. We only manufacture plastic products that are considered ‘life utility tools for the masses’ specifically to cater for socio economic groups C, D, E & F that live with limited or no infrastructure, no running water, inadequate hygienic food preparation areas and with no water storage facilities. 

Rida National Plastics Limited is the most qualified waste plastic collection, recycling and manufacturing company in Africa and perhaps the world, with the most experience in using manual labour forces for the collections and sorting of waste plastic with minimal cost impacts using our 20 years’ operating success that has been dependent on a sustainable waste plastic supply raw material streams. The informal waste plastic recycling practice in West Africa emanated from supply chain development policies we created and implemented over 2 decades ago. 

We have created a circular economy worth over 47,000,000,000 (Forty-Seven Billion Naira) at today’s monitory value over the last 25 years in payments for waste plastic directly to indirect labour and cottage industries. This means we have contributed more to Nigeria’s circular economy than every company in Nigeran combined. We are amongst the best example for a sustainable manufacturing model.

In February 2022, President Buhari endorsed the UN resolution, entitled, ‘End Plastic Pollution: Towards an Internationally Legally Binding Instrument’, it was adopted at the conclusion of the three-day UNEA-5.2 meeting, attended by participants from UN Member States, including 79 ministers and 17 high-level officials. Global Plastic pollution soared from two million tonnes in 1950 to 348 million tonnes in 2017, becoming a global industry valued at $522.6 billion, said United Nations Environmental Programme. It is expected to double in capacity by 2040. In her remarks to the UNEA, Deputy Secretary-General, Amina Mohammed, noted that the theme was based around “Strengthening Actions for Nature to Achieve the Sustainable Development Goals (SDG). “One thing we know for certain is that protecting nature is at the core of achieving the 2030 Agenda and goals of the Paris Agreement.” Muhammed, who was Nigeria’s former Minister of Environment, said: “If we are to ensure food and water security for all people around the world, we need to prevent ecosystem collapse.” ALSO, President Muhammadu Buhari said that the coming of UNEP underscores the need to make climate issues a priority for the entire world, even as he urged concerted action to make the organisation’s efforts a success story in Plastic recycling to achieve the United Nations 2030 Sustainability Development agenda.

We are Rida National Plastics