FCTA, NLC, private investors to build recycling factory

BY  LAIDE AKINBOADE

ABUJA—The  Federal Capital Territory, FCT,  Nigeria Labour Congress and private investors have concluded plans to build a recycling factory through a joint waste to wealth business venture.

Chairman of Nigeria Labour Congress, NLC, FCT council, Comrade Yahaya Abdullahi, stated  this yesterday in Abuja during the presentation of a feasibility study on the project by executives of the council to the Minister of State for FCT, Oloye Olajumoke Akinjide.
The tri-partite business venture is aimed at creating jobs, managing the huge waste generated in the FCT and also generating profit for the stakeholders.

Abdullahi disclosed that the Labour Congress would own 40 per cent equity in the joint business venture, while the FCT Administration and private investors would take up 60 per cent equity in the venture.

He said: “The NLC FCT Council had during a meeting last year with the Minister of FCT, Senator Bala Mohammed, and Minister of State for FCT, Oloye Olajumoke Akinjide, raised the issue of helping to mop up sachet water waste by setting up a recycling factory.”