STL Capital leads plastic waste awareness drive at Lagos’ Oyingbo market

NIGERIA – STL Capital Group has stepped up its sustainability advocacy in Nigeria with a plastic waste awareness and recycling sensitization campaign at Lagos’ bustling Oyingbo Market, highlighting the growing role of corporate-led initiatives in addressing urban waste challenges.

The campaign, organized in collaboration with the Lagos Waste Management Authority (LAWMA), was held to mark World Environment Day 2025 under the theme ‘Recycle and Revive’, aligning with the global focus on ‘Beat Plastic Pollution’.

Targeting traders and market users, the exercise aimed to address the environmental and public health risks posed by indiscriminate plastic disposal, a persistent issue in Lagos and other rapidly urbanizing African cities.

Speaking during the event, Ahmed Banu, Managing Director of STL Asset Management, said the initiative reflects STL Capital Group’s broader commitment to sustainability and responsible corporate citizenship.

He noted that plastic pollution continues to pose a significant threat to ecosystems, drainage systems, and community wellbeing, particularly in dense commercial hubs such as Oyingbo.

Banu urged citizens to adopt more responsible disposal habits, emphasizing recycling as both an environmental necessity and an opportunity to convert waste into economic value.

He added that World Environment Day provided a timely platform for STL to support environmental education at the grassroots level.

Reinforcing the message, Akin Oni, Executive Director of STL Trustees, pointed to increasing concerns around microplastics entering food chains and human systems as a result of poor waste management practices.

According to Oni, everyday plastic use, when not properly managed, has far-reaching consequences for aquatic life, public health, and urban infrastructure.

LAWMA officials at the event demonstrated practical recycling pathways, highlighting how informal waste collectors, particularly youth, generate income by selling recyclable plastics.

They also underscored the role of proper waste handling in preventing blocked drainage channels, which are a major contributor to flooding during Lagos’ rainy season.

The initiative aligns with STL Capital Group’s sustainability framework built around the “Three Ps”: People, Planet, and Profit, which the Group uses to guide its environmental and social impact strategies.

While this marks STL’s first public campaign directly linked to World Environment Day, the company has previously supported Lagos State’s urban renewal efforts through street beautification, gardening, and community clean-up projects.

The campaign comes amid growing momentum across Nigeria’s private sector to support waste reduction and circular economy initiatives.

In recent months, LAWMA has intensified partnerships with manufacturers, financial institutions, and recyclers to boost plastic recovery rates, while several consumer goods companies have expanded extended producer responsibility (EPR) programmes focused on post-consumer plastic collection.

STL Capital Group said it plans to sustain its advocacy efforts, stressing that meaningful progress on plastic pollution will depend on continued collaboration between corporates, government agencies, and local communities.

As Nigeria grapples with rising plastic waste volumes, such partnerships are increasingly seen as critical to building resilient, cleaner urban environments.

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