Recycling firm calls on FG to improve enabling environment to attract FDI

Lexsz Plastics Limited, a plastics recycling firm has urged the Federal Government to improve on infrastructural development to attract foreign direct investment in the country.

The Executive Director of Lexsz Plastics, Oba Olufemi Akowe, made the call while chatting with newsmen recently in Lagos. He said government should create a conducive business environment, especially on infrastructure, so that businesses can flourish and attract more FDIs into the country.

“With four production lines refining and processing, Lexsz Plastics is the largest plastics recycling enterprise in the entire West Africa and can attract more FDI if infrastructure is put in place,” Oba Akowe stated.

“The production scale of PET bottles per year amounted to over 100,000 tons to meet the major chemical Yangtze River Delta region of China class enterprise demand for a large number of raw materials.”

Speaking further, he said: “With over ten thousand local workers, the company’s products not only save a lot of energy and resources, but also effective for environmental protection areas in Lagos state and its environs.”

He noted that the company has been empowering public, private sector operators in Nigeria in clearing waste in the environment, adding that since its inception in 2011, it has relied solely on waste supply by individuals, government agencies cleaning dump sites and its own waste cleaning efforts to acquire raw materials for recycling to feed its factory.

“We rely on individuals who go round the cities and towns picking wastes and later sell to us. We also help the governments in some South West states to clear the state dump sites and even pay their agencies.” he said.

The Executive Director revealed that the company generates its own electricity through installation of high powered megawatts of electricity through gas turbines from NNPC.

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